- The FCT-IRS mandates residents to possess a Tax Clearance Certificate for accessing essential services, implementing tax laws to boost revenue
- The QR code on the TCC facilitates quick verification, and the FCT-IRS focuses on enforcing capital gains tax for enhanced revenue
The Federal Capital Territory-Internal Revenue Service (FCT-IRS) has declared that residents in the FCT must possess a Tax Clearance Certificate (TCC) to access any service within the territory. The Executive Chairman, Mr. Haruna Abdullah, disclosed this during a round table conversation with Business Editors in Abuja over the weekend.
According to Abdullah, the implementation of section 85 of the Personal Income Tax Act and section 31 of the FCT IRS Act now mandates individuals to file their returns and obtain a valid TCC. Without this certificate, essential services such as vehicle registration and building permits will be denied.
He emphasized the quick verification process facilitated by a QR code on the TCC, allowing relevant agencies to confirm the certificate’s authenticity within a minute. Abdullah highlighted the collaboration with various agencies to streamline the verification process, ensuring efficiency in confirming the validity and status of TCCs.
Furthermore, Abdullah revealed that the FCT IRS Act empowers the minister to formulate property tax regulations for the FCT. The Minister of FCT-IRS will collaborate with relevant stakeholders to draft regulations as approved by the FCT Minister.
To enhance revenue generation, Abdullah disclosed the implementation of the capital gains tax law. This previously voluntary measure will now be fully enforced to boost revenue collection in the FCT. With these initiatives, the FCT-IRS aims to strengthen tax compliance and revenue generation in the Federal Capital Territory.