FCTA Plans Framework To Block Revenue Leakages

PHOTO: FCT MINISTER, SENATOR BALA MOHAMMED.

ABUJA April 27, (THEWILL) - The FCT Administration will soon come up with a framework that would boost its revenue base as well as block possible areas of leakages.

The FCT Minister, Senator Bala Mohammed made this disclosure while declaring open the 122nd meeting of the Joint Tax Board on Monday at Sheraton Hotel and Towers, Abuja.

The Minister reiterated that the diversification in the revenue base of the FCT Administration is desirable to improve the services it renders to the residents of the Federal Capital Territory.

His words: "Considering the phenomenal increase in population and economic activities in the FCT coupled with the new taxes to be introduced in Abuja such as property tax and other taxes allowed to be collected constitutionally, there is the need to institute proper and efficient machinery of tax collection in the FCT."

Senator Mohammed stated that the FCT Administration is already collaborating with the Federal Inland Revenue Services (FIRS) to improve on its tax collection; hoping that the existing collaborative efforts between the two bodies would continue to further boost tax base of the Administration.

Senator Mohammed remarked that the Joint Tax Board has a crucial role in improving tax administration in Nigeria thereby meeting government revenue targets in spite of various challenges.

The Minister implored members of the Joint Tax Board to make constructive deliberation in order to come up with tax policies that will enhance the revenue generation at all tiers of government as the era of total reliance on government subvention is over. 

According to him, "we shall also need to work together to tackle the racketeering in the TCCs issuance and usage which is prevalent across the country."