TAX ADMINISTRATION IN NIGERIA

WHAT YOU SHOULD KNOW?

KNOW RELEVANT TAX AUTHORITY THAT ADMINISTER DIFFERENT TAXES

 

-COMPANY INCOME TAX -CIT. RELEVANT TAX AUTHORITY-FIRS(FEDERAL INLAND REVENUE SERVICE)
-PETROLEUM PROFIT TAX-PPT. RELEVANT TAX AUTHORITY-FIRS(FEDERAL INLAND REVENUE SERVICE)
-CAPITAL GAIN TAXES AND STAMP DUTIES-CGT FOR COMPANIES .  RELEVANT TAX AUTHORITY-FIRS (FEDERAL INLAND REVENUE SERVICE)
-PERSONAL INCOME TAX (PIT) FOR STATES- RELEVANT TAX AUTHORITY-STATE (INTERNAL REVENUE OF THE STATE)
-EDUCATION TAX-ED. RELEVANT TAX AUTHORITY-FIRS (FEDERAL INLAND REVENUE SERVICE)

-INFORMATION TECHNOLOGY TAX. RELEVANT TAX AUTHORITY-FIRS (FEDERAL INLAND REVENUE

SERVICE)

-CAPITAL GAIN TAXES AND STAMP DUTIES-CGT FOR STATES-(INTERNAL REVENUE OF THE STATE)

 

GENERAL OBJECTIVE 2:KNOW THE ADMINISTRATIVE MACHINERY AND INCOME TAX REGULATIONS IN  NIGERIA

AT THE END OF THE LECTURE  THE STUDENT SHOULD KNOW

2.1ADMINISTRATIVE MACHINERY CURRENTLY IN EXISTENCE IN  NIGERIA TAX LAWS

2.2STATE  THE PROCEDURE FOR PERSONAL INCOME TAX ASSESSMENT.

2.3 STATE THE PERSONS WHO ARE THE SUBJECT OF NIGERIAN INCOME TAX LAWS

 

 

a.THE JOINT TAX BOARD (JTB)

B.THE FEDERAL BOARD OF INLAND REVENUE(FBIR)

C. THE STATE BOARD OF  INTERNAL REVENUE

D.LOCAL GOVERNMENT REVENUE COMMITTEE

E. JOINT  STATE REVENUE

 

 

JTB –JOINT TAX BOARD

COMPOSITION

A.      THE EXECUTIVE CHAIRMAN OF THE FIRS AS CHAIRMAN

B.      THE REPRESENTATIVE  FROM EACH STATE OF THE FEDERATION.

 

 

FUNCTION

-ADVICE  FEDERAL GOVERNMENT  IN RESPECT OF DOUBLE TAXATION ARRANGEMENT,RATE OF CAPITAL ALLOWANCE.

-ENSURE UNIFORMITY ON THE TAX APPLICATION OF PITA OOF INDIVIDUAL THROUGHOUT  NIGERIA

-IMPOSE ITS DECISION ON MATTERSOF PROCEDURES AND  INTERPRETATION  OF PITA

 

 

STATE BOARD OF INTERNAL REVENUE(SBIR)

COMPOSITION

(a)    The exec chairman of the state service who shall be a person experienced in taxation appointed y the state governor from within the state servic

(b)   The director s and heads of department within the state services

(c)    Director from state ministry of finance

(d)   3 persons nominated by the commissioner of finance in the state  on their personal merit

(e)   Legal adviser to the state service

(f)     The secretary to the state service who shall be an ex –officio member

 

 

FUNCTION OF SBIR

 

·         The functions of the board include Assessment, Collection and Accounting for all taxes in the State and may do all such things as may be deemed necessary or expedient for the assessment and collection of such taxes.

·         Supervising the collection of all revenue due to the state which other Ministries or departments collect

·         Review of obsolete rates collectible by the Board.

·         Liaise with the Federal and other State Governments through the Federal Joint Tax Board on tax and revenue matters.

 

FBIR.

 

FIRS ACT SPECIFIES

THE COMPOSITION

(a)   Executive Chairman

(b)   Nine members with relevant qualifications and expertise appointed by the President to represent each of the 9 geo-political zones

(c)   A representative of the Attorney-General of the Federation

(d)   The Governor of the Central Bank of Nigeria or his representative

(e)   A representative of the Minister of Finance not below the rank of a Director

(f)    The Chairman of the Revenue Mobilization, Allocation and Fiscal Commission

(g)   The Group Managing Director of the Nigerian National Petroleum Corporation

(h)   The Comptroller-General of the Nigeria Customs Service or his representative not below the rank of Deputy Comptroller-General;

(i)    The Registrar-General of the Corporate Affairs Commission or his representative

(j)    The Chief Executive Officer of the National Planning Commission or his representative

 

 

 

 

 

 

 

FUNCTIONS

-timely publication  and provision of annual returns to f.g

-timely provide tax advise ,ruling and clarification

-issuance of tTIN at no cost

-the regular investigation, enforcement and prosecution of tax defaulters as provided by the law

-processing refund claims as requested

 

 

LOCAL GOVERNMENT REVENUE COMMITTEE

 

A.   THE SUPERVISOR FOR FINANCE AS CHAIRMAN

B.   THREE L.G CONCILLORS AS MEMBER

C.   2  OTHER PERSONS EXPERIENCE IN REVENUE  MATTERS NOMINATED BY THE CHAIRMAN OF L.G ON THEIR PERSONAL MERIT 

Disclaimer: Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this publication. Consult your professional for advice. 

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