The minister of the Federal Capital Territory (FCT), Mohammed Musa Bello has warned tax evaders of severe punishment upon conviction.
The minister made this disclosure Wednesday at an FCT-Inland Revenue Service, IRS Townhall Meeting in Abuja.
Bello warned tax invaders to be wary of the dire consequences upon conviction.
He says: “Therefore, I use this opportunity to send a note of strong warning to tax evaders to desist from their actions. Not only are their actions morally wrong as they ride on the sweat of others, but their actions are also serious criminal offences for which they can face very severe penalties on their conviction.”
He, however, urged residents and business owners to adhere strictly to the payment of their taxes to help further develop the Nation’s capital.
“As residents and business owners, you have a sacred responsibility of paying your tax to help the administration in ensuring the fact that we desire,” he stated.
The event provided residents and other stakeholders a platform to fully grasp the importance of tax policy and its implementation.
Earlier, the acting chairman of FCT-IRS, Mr Haruna Abdullahi, said the Tax Clearance Certificate, TCC, is a crucial pre-condition for business transactions in the nation’s capital.
“It is imperative that a Tax Clearance Certificate (TCC) is demanded as a pre-condition for various transactions in the FCT and it is instructive to note that the law requires such from Government Ministries, Departments, Agencies and commercial banks.
“Consequently, the failure to demand and verify a Tax Clearance Certificate presented by an individual is liable to sanctions and possible conviction with a fine of N5,000,000.00 (five million naira) or three years imprisonment, or both the fine and imprisonment, according to the relevant tax laws. I would urge all residents and relevant stakeholders to choose voluntary compliance over compulsion,” he stated.
Recall that FCTA on 4th and 7th November 2022 announced that FCT-IRS TCC is a mandatory pre-condition for all business transactions in Abuja.