By: Wisdom Acka
Expatriates resident in the Federal Capital Territory will be appropriately taxed by authorities of the FCT Administration.
This is as the FCT Internal Revenue Service (FCT-IRS) has issued a three-week ultimatum to companies and organisations with foreign nationals working in the Territory to turn in details of expatriates for proper documentation for taxation.
A statement released over the weekend to the media by its Head of Corporate Communications, Mustapha Sumaila, says the move was in continuation of efforts to harmonize and enhance the Internally Generated Revenue of the FCTA.
The statement advised the affected organisations to comply promptly not later than the end of May 2023.
It explained that the taxation move was part of resolutions reached with the Secretary, Economic Planning, Revenue Generation and PPP, Agboola Lukman Dabiri, and FCT-IRS Acting Executive Chairman, Haruna Abdullahi.
The statement further reads: “This exercise is compulsory and should be taken with utmost importance by firms and organisations with expatriates working under them within the Federal Capital Territory”.
Recall that the Federal Capital Territory Administration has recently revealed its over N213 billion revenue target for this year; adding it would plug all loopholes in revenue collection process and expand its revenue base.