The Chairman of FCT Tax Practitioners Association, Vice Chairman Chartered Institute of Taxation of Nigeria, Abuja District Society and also the managing partner Accounting Tools Consulting, Dr. Kennedy Iwundu has called on Government agencies to ensure that they utilize the Tax Identification Number (TIN) of contractors during deductions and remittances of tax when paying contractors.
Dr. Kennedy Iwundu made this demand while responding to questions from journalists in his office on Friday on the level of tax compliance and remittances in Nigeria.
He said that so many government contractors are always finding it difficult to access their tax credit in Federal Inland Revenue Service(FIRS), as the Federal Inland Revenue Service always claims that she does not have evidence of tax credits remitted to her (FIRS) by Government agencies on behalf of tax payers.
Dr. Kennedy Iwundu went further to also advise the Federal Inland Revenue Service to use letters of award of contracts of government agencies and bank statements of contractors as an alternative to granting tax credit to tax payers who have suffered deductions from government agencies and parastatals.
Dr. Kennedy Iwundu Is the Chairman of FCT Tax Practitioners Association, Vice Chairman Chartered Institute of Taxation of Nigeria Abuja District Society, Director, Association of Charted Systems Tax Professionals USA, and the managing partner Accounting Tools Consulting Services.