Nigeria Among World’s Top 20 In Tax Collection, Says Fowler

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Nigeria Among World’s Top 20 In Tax Collection, Says Fowler

Nigeria Among World’s Top 20 In Tax Collection, Says Fowler
November 09
03:15 2019

The Chairman, Joint Tax Board (JTB),  Mr Babatunde Fowler, said Nigeria has become one of the 20 performing countries globally today.

Fowler said the Southeast states have already received N23.87 billion from the Federal Government, adding that the Board was confident  the  gesture would encourage the state governments to reciprocate and promptly remit all withholding taxes and VAT due to the federation account.

He spoke yesterday at the Southeast geo-political zone regional flag-off ceremony for the new National TIN registration system held at the Prof Dora Akunyili Women’s Development Centre, Awka, Anambra State.

Fowler said the year 2019 was looking quite positive as the sum of 42.98 billion naira has been reported for the half of the year, which according to him, represented 18.1 percent growth over the 36.4 billion recorded for the half of 2018.

On 1st July, 2019, the official launch of the New National TIN Registration System and Consolidated Taxpayers’ Database was carried out by the Vice President, Prof Yemi Osinbajo (SAN).

He said a  major feature of the New System was  that it possessed the capability to integrate with all relevant agencies by leveraging on already captured data.

Fowler said Anambra’s choice to host South-East Regional flag-off event was  partly in recognition of the positive strides the State was  making towards enhancing its internally generated revenue (IGR) potential over the years.

“We also recognize the huge entrepreneurial and commercial potential of the state taking into consideration that the Onitsha main market is touted as the biggest market in West Africa; and we are well aware of the opportunities that this can have in shoring up the state’s IGR potential.

“A look at the IGR performance of the Southeast geo-political zone also shows encouraging growth trends as the cumulative collection of N77.31 billion for the year 2018 was a 16.66 per cent improvement of the N66.27 billion collected in 2017”

“The year 2019 is looking quite positive as well as already, the sum of N42.98 billion has been reported for the half year period. This represents an 18.1 per cent growth over the N36.4 billion recorded for the half year period of 2018”

“This new reality drives the desire by the JTB to ensure that the identification of individuals and corporate bodies for tax purposes in Nigeria is achievable.”

The JTB chairman said the new TIN Registration System was  geared towards reinforcing the commendable efforts of this administration towards building a robust tax-revenue administration system for the country.

“Consistent upward progression in the World Bank ‘Ease of Doing Business’ ranking, that saw the country move up 16 places in the recently released 2020 Report from 146th position to 131st position; thus, making the country one of the top 20 reformers globally

In his address Anambra State Governor, Chief Willie Obiano, said  the modest successes recorded so far from the effective collaboration between the Joint Tax Board and the Government of Anambra State  had led to improved tax administration and revenue generation.

Obiano was represented by his Deputy, Dr Nkem Okeke.

He said, ” Anambra State has progressively maintained a growth pattern in revenue generation and overall tax administration over the past five years”

“We commend the Joint Tax Board for their efforts in this regard and assure you of a conducive environment for a successful implementation and operation of the new TIN Registration System the state.”

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