The Federal Capital Territory Administration, FCTA, has said its ongoing efforts at revenue collection harmonization, was partly to end tax evasion in Abuja.
FCTA said tax evasion has greatly reduced revenue generation needed to raise the tempo of infrastructure development in the Capital City.
This disclosure was made by FCTA’s Permanent Secretary, Adesola Olusade on Monday in Abuja, when he addressed participants at a one-day Townhall Meeting on tax harmonization.
The meeting was said to have been organised by the FCT-IRS to further harness stakeholders’ support for the implementation of the harmonization initiative.
Olusade also noted that decision to embark on the revenue collection harmonization drive in collaboration with the six Area Councils, was also in sync with global best practices.
The Permanent Secretary stated that, ” by simplifying and consolidating our revenue collection systems, we aim to attract more investment, stimulate economic growth, and create employment opportunities.
“This will enhance the FCT’s reputation as an investment-friendly destination and contribute to the overall development of the region”.
Also Speaking, Chairman of FCT-IRS, Haruna Abdullahi explained that the processes of the harmonization were duly backed by extant laws and regulations.
He further averred that apart from increasing revenue generation for the benefits of both the government and citizens, promoters of the initiative, also want to enshrine transparency and accountability in the systems.
Abdullahi added, ” the Federal Capital Territory Internal Revenue Service Act entrusts us, the FCT-IRS, with the duty to collaborate with relevant stakeholders and agencies in harmonizing and improving our tax practices.
“This is aimed at optimizing our revenue generation efforts, while ensuring simplicity, transparency, and accountability in our tax systems”.
