Wike Approves Implementation Of Personal Income Tax In FCT

The Minister of the Federal Capital Territory (FCT), Ezenwo Nyesom Wike has ordered the enforcement of the Personal Income Tax and the FCT Internal Revenue Service Acts 2015.

The move is aimed at boosting the territory’s revenue profile.

Naija News recalls that in an October 4 , 2023 memo, Wike had directed all Ministries, Departments and Agencies MDAs, Commercial banks, as well as FCT Secretariats, Departments and Agencies SDAs to ensure strict compliance with the laws particularly Section 85 of the Personal Income Tax Act (PITA) and Section 31 of the FCT Internal Revenue Service Act 2015.

Speaking in a news conference on Monday, the Mandate Secretary, FCT Economic Planning, Revenue Generation, and Public Private Partnerships Secretariat, Chinedum Elechi disclosed that Wike had approved the implementation of Section 85 of Personal Income Tax Act (PITA) and Section 31 of the FCT Internal Revenue Service Act, 2015.

He explained that anyone who provides false information or obtains a TCC through forgery or falsification, would be liable upon conviction to a fine of N50,000 or a three year jail term or both upon conviction.

He added that a government entity or organization who failed to verify a TCC before any transaction is liable to a fine of ₦5,000,000 or a three year, jail term or both, upon conviction.

According to him, “Section 31 of the FCT-IRS Act provides that all SDAs, corporate bodies, or any person empowered by law, shall demand a TCC from any person or enterprise for the last three years preceding the current year of assessment as a precondition for transacting any business in the FCT”.

“The said transactions include Certificate of Occupancy, award of contracts, approval of building plans, application for FCTA loan for housing, business or any other purpose, registration of motor vehicles, land applications and a host of others.

“Taxes are essential to the foundation of any government, and it is important that everyone pays their fair share. Payment of tax is a civic duty and responsibility. Implementation of these laws is intended to ensure that all eligible taxpayers in the FCT comply with their tax obligations”.