Economy
THE Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged private companies, government’s Ministries, Departments and Agencies (MDAs) and other employers of labour in the territory to file their employee annual tax returns for 2024.
The acting Executive Chairman, Mr Michael Ango, who made the call in a statement in Abuja on Sunday, said that the employers have up to Jan. 31 to comply.
In the statement, signed by the service’s Head of Corporate Communications, Mr Mustapha Sumaila, the FCT-IRS boss said that the returns should be filed using the prescribed forms provided by the service.
This, he said, was in compliance with Section 81 of the Personal Income Tax Act (PITA) 2011 (as amended) and the Pay As You Earn (PAYE) Regulations.
He explained that the PITA Act mandates all employers of labour in the FCT to file annual returns of all emoluments paid to their employees and the total taxes of the preceding year, not later than Jan. 31 of every year.
The News Agency of Nigeria (NAN) reports that Ango had during the 2025 stakeholder’s engagement, emphasised that filing of employee annual returns by all employees was mandatory as provided by law.
He added that failure to file the returns would attract penalties and other sanctions, which the FCT-IRS would not hesitate to impose on any defaulters.
According to him, the best form of compliance is voluntary, which the FCT-IRS expects from all taxpayers in the FCT.
“I, therefore, enjoined all private organisations, MDAs, government owned enterprises, including sole proprietorships who are employers of labour in the FCT to comply with their tax obligations to avoid sanctions.
“More importantly, the support will contribute to the development of the FCT and the efforts of the Minister of FCT, Mr Nyesom Wike, to transform the territory into a modern city,” he said. (NAN)
13th January, 2025.
C.E.
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