Nigerian currency

Mr KUNLE Adeosun,Chairman Internal Revenue Service has disclosed that the people In federal government agencies as well as private institution have failed to remit their respective taxes.

He said this in Abeokuta recently that people don’t know they need to disclose their sources of income as well as the numbers of employees they have.

His words: “People don’t know if they have other source of income they need to disclose it.”

“And we as tax administrators, we need to do a lot more in terms of enlightening people. They don’t know they have to file annual tax income.

“The vice president signed the executive order of compliance while we always do our own vision of it by inviting people to come and disclose their income.
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“Most people don’t know there are. some income or gift they need to pay tax on. Even those who have private jets need to pay tax on them even if it was donated to them by church.

“In terms of Rental property or if they collect dividends from their company, they also need to declare those. We are taking advantage of this forum to enlighten our people. Most people don’t know their income, they don’t know they need to pay tax. We allow people through compliance to come and disclose their income.

“We have a number of companies that have filed bonus in cooperation.

“In Ogun we have quiet a number of people that have filed for annual tax returns. They think if am on PAYE, I don’t need to disclose my income.

“The last time we have people declaring properties of #10million and above was in 2016.Currently now we have over Eighty people paying over #10million In Ogun.”

Adeosun revealed that Ogun State has been doing tax compliance before Vice President Osibajo signed the executive order of compliance and we always do our own vision of it by inviting people to come and disclose their income.