New Policy Introduction Will Curb Tax Evasion- KWIRS
Written by Uthy on September 14, 2017
THE Kwara State Internal Revenue Service says high net worth tax was introduced to curb the incident of tax evasion and to ensure financial independent for the government.
The Director High Net-Worth Individual and Corporate of the Service, Alhaji Nuhu Muhammed stated this today while featuring on a Radio Kwara interactive programme “the Platform”.
According to him, the initiative was first introduced by the federal government in nineteen ninety-seven to ensure that corporate bodies and individuals comply with the revenue service by given details of their annual profit, noting that the level of compliance is not encouraging.
Alhaji Muhammed called on Kwarans citizens and residents to voluntarily declare their assets and incomes in support of the policy on progressive taxation in the state.
He also called on Kwarans, particularly corporate bodies to continue to cooperate with the Service, saying that paying tax is not a punishment but a civic obligation.
Alhaji Muhammed said a team of consultants had been set up by the federal government to map and trace wealthy individuals who had failed to declare their incomes for the past six years.
He added that full enforcement would be commenced on those that are not willing to comply with the new directive by the thirty-first of March next year.
The Director reiterated the commitment of the service towards maintaining the integrity of the tax laws and promised to make holiday tax a reality in Kwara State.
Callers on the programme applauded the new initiative of the service and urged the agency to redouble its efforts to achieve the set goals.
They also called on the service to relax its enforcement on the marketers and shop owners in the state.