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FIRS SEEKS EXCLUSIVE POWER ON VAT, WRITE NATIONAL ASSEMBLY.

 

 

FIRS writes National Assembly, seeks exclusive power on VAT

Muhammad-Nami, FIRS

Executive Chairman, FIRS, Muhammad Nami

The Federal Inland Revenue Service, in a desperate bid to retain the collection of the Value Added Tax, has written the National Assembly, seeking the inclusion of VAT collection in the exclusive legislative list.

The federal tax agency is also requesting the federal lawmakers to approve for it, the establishment of the Federal Revenue Court of Nigeria.

A Federal High Court in Port Harcourt had on August 10 delivered a judgment restraining the FIRS from collecting VAT and personal income tax in Rivers State.

Although the FIRS had appealed the ruling, it however, failed to obtain a stay of execution it sought to prevent the state government from enforcing the verdict.

However, a letter signed by the Executive Chairman of the FIRS, Muhammad Nami, and dated July 1, 2021, was addressed to the Chairman of the Constitution Review who is also the Deputy Speaker of the House of Representatives, Idris Wase.

The letter with references number FIRS/EC/CWREP/0416/21/037
which was received in Wase’s office on July 2, was titled, ‘Request for sponsorship of a bill for the establishment of the proposed Federal Revenue Court of Nigeria and the insertion of Value Added Tax under item 58 of the exclusive legislative list’.

The federal tax agency specifically pleaded with the nation’s apex legislative institution, to vest, exclusively, all adjudication of tax disputes, including federal tax laws, companies income tax, petroleum tax, income tax, capital gain tax, stamp duty, VAT, taxes, levies and other laws, regulations, proclamations, government notices and rules on it.

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