Reps Approve Creation Revenue Agency for FCT

The House of Representatives has adopted a recommendation of its committee to establish the Federal Capital Territory (FCT) Internal Revenue Service for the territory.

 

The report was a product of a bill referred to the House committee on FCT headed by Hon Emmanuel Jime. It provides in clause 1 that: “There is established a body to be known as the Federal Capital Territory Internal Revenue Service (in this bill referred to as “the service”).

Clause 2 of the report states that: “The object of the service shall be to control and administer the different taxes and laws specified in the first schedule or other laws made or to be made from time to time by the National Assembly or other regulations made there under by the government of the federation and to account for all taxes collected.”

While clause 3 provides that there shall be a board for the service with an experienced chairman, directors of treasury, legal services, lands, planning and survey, area councils and Abuja Infrastructure and Investment Company who shall be appointed by the Minister of the FCT subject to confirmation by the National Assembly.

Fourteen out of the 86 clauses contained in the report were adopted. When established, the FCT Revenue Service will be saddled with the responsibility of assessing, collecting and accounting for all revenues due to the territory.