News

Nigerians Talk Too Much on Phone – Babatunde Fowler

By  | 

Ajao Taiwo

The Chairman of Federal Inland Revenue Service (FIRS), Babatunde Fowler said Nigerians talk a lot on phone and there’s no harm in introducing a communication tax.

The Communication Tax Bills which passes its first reading at the National House of Assemby provide the rate of tax is 9% of the charge of the use of communication service.

According to him, this would replace 2.2% proposed increase in Value-added tax (VAT) beign proposed by the federal executive council.

He explained further , the FIRS plan to introduce VAT on online transactions, “All we are saying is that those who use online facilities, we will give instructions to the banks that once they make the payment, they will just charge 5% VAT and remit it as an agent to FIRS.

The federal government is making efforts to shore up revenue and improve the country’s fiscal health.

In the independence Day speech, President Muhammadu Buhari said revenue-generating agencies that do not meet targets will be sanctioned.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: