We understand that the harmonised bill recently passed by the National Assembly, which seeks to establish an independent Internal Revenue Service for the Federal Capital Territory, Abuja has been signed into law.
Before now, tax administration of the FCT was under the Federal Inland Revenue Service. With this development, the FCT IRS will function like those in any of the 36 states of the federation. It is expected that there will be more focus on internally generated revenue drive and enforcement of compliance like never before.
Watch this space for further details.
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