FCT-IRS To Support Businesses In Development Of FCT

The acting executive chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Mr Michael Ango has pledged to support businesses to thrive in the territory for the progress of the FCT.

Ango made the promise when he received a delegation from the Abuja Chamber of Commerce and Industry (ACCI) led by the president, Chief Emeka Obegolu, who paid him a courtesy visit to Abuja.

In a statement signed by the head of corporate communications of FCT-IRS, Mustapha Sumaila, the acting executive chairman, explained that it is a known fact that revenue collection of the administration does not exist in a vacuum.

He said rather it exists in the context of the larger economy, and whatever happens in the economy would certainly have an impact on revenue collection, adding that when businesses thrive, it would have a positive effect on revenue generation. If businesses are in bad shape, it will also affect the collection.

The FCT-IRS boss noted that the current administration’s focus was to improve the ease of doing business and create a conducive environment for businesses to grow.

“One of the major policy statements that the president made in terms of taxation and revenues is that we should not tax the seeds, but we should tax the fruits, and this demonstrates his commitment to enhance ease of doing business,” he stated.

He disclosed that henceforth, the service would be seen doing more on corporate social responsibility (CSR) to give back to businesses and communities across the territory.

“The FCT-IRS as a tax authority will now be visible in the area of CSR. We can go to the market and plazas and offer assistance by improving their facilities to create a conducive environment. In doing this, they will understand that we are not only coming to take from them but also give to support their businesses,” he said.

Ango said the service under his leadership was mapping out strategies to promote voluntary compliance by the taxpayers, adding that voluntary compliance was the best form of taxation.

He thanked the ACCI team for the visit and assured them of his support and continued collaboration by the Service to promote business activities in the FCT. The chairman, however, harped on the need to maximise the relationship to guarantee mutual benefits between the two organisations.

Earlier, the president of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, congratulated the FCT-IRS chairman on his appointment and expressed gratitude for the historical support the Service has rendered, emphasizing the positive impact on business opportunities.

“The ACCI, as you know, is the private sector’s voice in the FCT. Our major mandate is to advance the ease of doing business in the FCT and advocate for government policies that will support it. We work with four focal centres in ACCI.

“The first is the National Chambers of Commerce dispute resolution centre, established within ACCI to promote effective dispute resolution in commercial disputes. Second is the National Chamber of Commerce dispute, which serves the business community in the FCT, and we believe that with the appropriate policies of the government, it can serve in tax dispute resolution.

“We also have the Abuja trade centre with a mandate to organise business-to-business meetings with trade missions and trade fairs and generally promote commerce within and outside the FCT. We have the BEST centre, the ACCI Business Entrepreneurial Skills and Technology Center.

“This centre trains the skilled workforce for the business entities in the FCT. What we do is conduct a survey of the workforce needs of FCT businesses and tailor skills training to support those needs. The last centre is the policy and advocacy centre, which is the arm of the ACCI that advocates continuous engagements with the legislature and government parastatals to promote ease of doing business,” he said.

Speaking on the upcoming Abuja International Trade Fair starting on the 20th of September 2024, with the opening ceremony on the 23rd, the ACCI president sought to deepen collaboration for mutual benefit and strengthen the existing relationship by supporting tax education and advocacy within the territory.

Also present was the Former President of the Chamber, a former Attorney-General of the Federation and Minister of Justice, Prince Adetokunbo Kayode, who expressed joy at the warm reception from the FCT-IRS and acknowledged the critical role of the institution in the development of the FCT.

He reiterated the importance of collaboration and support, proposing that the FCT-IRS become a council member of the chamber to enhance cooperation for public welfare and economic growth.

Highlighting the significance of broadening the tax base as a key focus, he buttressed the need for advocacy and outreach, especially towards individuals and small businesses. He also stressed the essential role of tax policies in economic development, emphasising the importance of supporting SMEs for inclusive growth.

“We know you are dealing with individuals and SMEs, and I think the government needs to strengthen the policy of FCT, even other states’ IRS, which is the heart and soul of our economic development. We have millions of SMEs, and these are people that you deal with too, so there is a conjunction there, and we assure you of our cooperation,” he added.