The Federal Capital Territory Internal Revenue Service (FCT-IRS) has issued a three-week ultimatum to Ministries, Departments, and Agencies (MDAs), as well as employers of labour, to file their tax returns. This move is part of an ongoing effort by the FCT-IRS to ensure tax compliance across the region and improve revenue generation for the territory.
The ultimatum, which was announced by the FCT-IRS, aims to ensure that all relevant entities submit their tax returns for the year within the stipulated period. Failure to comply could lead to penalties and other enforcement measures, as the FCT-IRS continues to strengthen its efforts in promoting tax transparency and accountability.
The tax authority emphasized that MDAs and employers are obligated under the law to file accurate tax returns within the prescribed time frame. This step is crucial in achieving the goals of the FCT-IRS, including enhancing local government revenues and contributing to sustainable economic development.
The FCT-IRS also urged the public to take advantage of the remaining time to meet their tax obligations. In addition, the tax authority assured that it would provide support and guidance for entities that require assistance in filing their returns.
This move by the FCT-IRS comes at a time when the government is making efforts to improve the country’s tax system and maximize revenues to fund critical infrastructure and public services. With the three-week deadline fast approaching, stakeholders are urged to act swiftly to avoid sanctions.
