The Minister of the Federal Capital Territory, Nyesom Wike, has raised concerns over excessive taxation in the nation’s capital. The caution was communicated by Mustapha Sumaila, Head of Corporate Communications at the Federal Capital Territory Internal Revenue Service (FCT-IRS), in a statement released on Sunday.
Employers in Abuja are urged to submit their 2023 annual returns by January 31, 2024, as mandated by Section 41 of the Personal Income Tax Act (PITA) 2011 (as amended).
Sumaila emphasized that Sections 94, 95, and 96 of PITA outline penalties for non-filing, incorrect declarations, and delayed submissions. The FCT-IRS is committed to enforcing these regulations to ensure compliance.
Sumaila further encouraged employers, organizations, and agents to fulfill their obligations before the January 31 deadline. Failure to do so will result in penalties, in line with legal provisions, for those who submit late or fail to file altogether.
Sumaila said; “It is also clearly stated in Sections 94, 95 and 96 of PITA, which stipulate penalties for non-filing, incorrect/false declaration and late submission, and the Service would not hesitate to enforce the laws on the defaulters.
“Meanwhile, FCT-IRS encourages employers of labour, organizations, and agents to file their returns before the January 31 deadline; otherwise, the late filers and non-filers are penalized in accordance with the law,” he added.