FCT-IRS To Support Business Development

By: Salamatu Aminu & Sunday Shekwonya

Moved by the desire to improve the socio-economic lives of the residents of Federal Capital Territory (FCT), the FCT Internal Revenue Service (FCT-IRS), will support all businesses in Abuja to ensure rapid development.

The Acting Executive Chairman of Chairman of the FCT Internal Revenue Service, Mr. Michael Ango, stated this while receiving a delegation from the Abuja Chamber of Commerce and Industry (ACCI) led by its President, Chief Emeka Obegolu, who paid him a working visit in his office.

Ango explained that it is a known fact that revenue collection or administration does not exist in a vacuum rather, it exists in the context of the larger economy and whatever happens in the economy would certainly have impact on revenue collection.

The FCT-IRS Chairman noted that the focus of the current administration was to improve the Ease of Doing Business and create a conducive environment for businesses to grow, which will in turn, improve the socio-economic growth in the FCT.

According to him, “One of the major policy statement that the President made in terms of taxation and revenues is that, we should not tax the seeds, but we should tax the fruits and this demonstrates his commitment to enhance ease of doing business.”

He disclosed that henceforth, the FCT-IRS would be seen doing more on Corporate Social Responsibility (CSR) to give back to businesses and communities across the Territory.

His words: “The FCT-IRS as a tax authority will now be visible in the area of CSR. We can go to the market, plazas and offer assistance by improving their facilities in order to have a conducive environment. In doing this, they will understand that we are not only coming to take from them but to also give to support their businesses.”

The Chairman said the Service under his leadership was mapping out strategies to promote voluntary compliance by the taxpayers; adding that, in taxation, voluntary compliance was the best form of compliance.

He thanked the ACCI team for the visit and assured them of his support and continued collaboration by the Service to promote business activities in the FCT and promised to sustain the relationship to guarantee mutual benefits between the two organisations.

Earlier in his remarks, the President Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, congratulated the FCT-IRS Chairman on his appointment and expressed gratitude for the historical support the Service has rendered; emphasizing the positive impact on business opportunities.

He explained that the ACCI is the voice of the private sector in the FCT that advance the Ease of Doing Business in the FCT and advocate for policies of government that will support it.

Speaking on the upcoming Abuja International Trade Fair starting on 20th of September 2024, with the opening ceremony on the 23rd, the ACCI President sought to deepen collaboration for mutual benefit and strengthen the existing relationship by supporting tax education and advocacy within the Territory.