The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

COVID-19: Nami Tasks Nigerians, Corporate Bodies On Tax Payment

Next Edition by Next Edition
August 4, 2020
in Headline News
COVID-19: Nami Tasks Nigerians, Corporate Bodies On Tax Payment

Muhammad Nami

0
SHARES
2
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has stressed the need for Nigerians and corporate bodies to continue to pay taxes as and when due, saying that revenues generated by the service have kept the nation’s economy going amid the COVID-19 pandemic.

COVID-19: Nami Tasks Nigerians, Corporate Bodies On Tax Payment

You might also like

Four Dead, ’18 Injured’ As IEDs Explode In Yobe

Police Arrest Two Traffic Robbers In Lagos

Lagos Assembly Approves Solar-powered Street Lighting Initiative

This is even as he described as false the belief that with oil money, Nigeria is rich.

Nami, who spoke Monday during a live appearance on the popular morning show, Kaakaki, on Africa Independent Television (AIT), said what the federal, states and local governments share at the federation account meetings monthly comes from the taxes paid by Nigerians or body corporate.

“At the Federal Accounts Allocation Committee (FAAC) meeting in July, the total amount shared among the three tiers of government was N696 billion. From this amount 30 per cent came from revenue generating-agencies like Nigerian National Petroleum Corporation (NNPC) and Customs. The remaining 70 per cent which is almost N500 billion, came from tax money that you paid, including stamp duty.

“Without this money, there will be chaos everywhere. You are looking at issues relating to COVID-19 and the impact it is having on businesses today. People are actually losing jobs but it would be worse if taxes are not paid.

READ ALSO: FIRS: Paying Taxes Is Not The Problem

“Nobody wants to pay tax but payment of tax is necessary. There is never a time that is appropriate for somebody to pay taxes. You can see it all over the world,” he said.

According to Nami, there would never be a convenient time for citizens to pay their taxes, stating that bankable Nigerians have been paying stamp duty on their cheque books since the introduction of the stamp duty in 1939.

He disclosed that the renewed focus on stamp duty via the recent launch of an inter-ministerial committee on the recovery of stamp duty from 2016 till date has started to yield dividends.

“Before now remittance from stamp used to be an average of about ₦17 billion and ₦18 billion per year, Currently, it is in the region of ₦80 billion. A commercial bank which has not been remitting this stamp duty before now in the month of July alone remitted about ₦1.2 billion so we are not playing about it.

“We know that oil revenue is not there. We know that we are in a serious economic crisis and the only way to ensure that Nigerians are happy with the government is to ensure that this money deducted from their hard-earned income but which is not remitted is remitted to government coffers,” he said.

Tags: AIT KaakakiFIRSTax revenue
Next Edition

Next Edition

Recommended For You

Police Arrest 'immigration officer,' 3Others With Trailers Of Rustled Cows

Four Dead, ’18 Injured’ As IEDs Explode In Yobe

At least four people have been killed and 18 reportedly injured following two separate improvised explosive device (IED) explosions in Gujba LGA of Yobe state. According to Zagazola...

Police Arrest Hotelier Over OAU Post-Graduate Student’s Death

Police Arrest Two Traffic Robbers In Lagos

  Operatives of the Lagos Rapid Response Squad (RRS), a unit of the Lagos Police Command, have arrested two notorious traffic robbers operating in the Ketu and Mile...

Lagos Govt Reaffirms Ban On Flogging In Schools, Upholds Counseling

Lagos Assembly Approves Solar-powered Street Lighting Initiative

  The Committee urged the Lagos State Electricity Board to ensure equitable distribution of the solar street lights across all parts of the state. The Lagos House of...

Senate Confirms Sani Adam As INEC National Commissioner

Constitution Review: Senate To Consider States Creation Requests, State Police, Other Bills

The Senate committee responsible for reviewing the 1999 constitution has announced that it will evaluate 31 proposals for the creation of new states as part of a renewed...

Next Post
Naming Railway Station After Jonathan Is Demeaning -PANDEF

Naming Railway Station After Jonathan Is Demeaning -PANDEF




Related News

Allegri unhappy in spite of another Juventus win

Allegri unhappy in spite of another Juventus win

STOP STALKING YOUR MAN

What Women Want 

30 Injured As Car Crashes Into Carnival Parade

30 Injured As Car Crashes Into Carnival Parade




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited