Federal Capital Territory Internal Revenue Service, FCT-IRS, has threatened to impose N500,000 minimum penalty on defaulters of annual returns filing.
Acting Executive Chairman of the services, Mr Michael Ango gave the warning in Abuja on Thursday during the FCT-IRS annual sensitisation campaign to mobilise FCT residents for voluntary tax compliance.
Ango explained that for persons who did not file their 2024 annual returns in January , the law had set a penalty of N500,000 minimum penalty.
He said the first filing deadline for the year is January 31, where employers annual returns were due, adding that a reasonable number of companies had filed.
He commended every company that filed their employees’ annual returns, adding that FCT-IRS would write them a letter of commendation.
He, however, said, “for those who did not file, we are also going to write them a letter, but not a letter of commendation.
“We are going to be sending out penalties notification for non-compliance and then give them a chance to comply.
“We have already written to a number of them, informing them of the minimum penalty of N500,000, but that is not just it, we also have the power to prosecute defaulters.”
He added that another deadline would come up in 30 days for every person, whether in employment or not, to file their annual income tax.
Ango explained that the law mandates every person, whether in employment or not to file their annual income tax returns by March 31 every year.
He appealed to law-abiding citizens to pay their taxes voluntarily, adding that payment of tax is a lawful obligation.
According to him, where the law creates an obligation, it also creates penalties and sanctions for non-compliance.
“We believe in voluntary compliance, but if you do not comply voluntarily, we have no option than to enforce the law, even if we don’t want to.
“The law mandates us to do so, but we hope that it does not get there, there are also responsibilities expected from the public.
“We expect those of you who have not registered to do so with the FCT-IRS.
“We pray that one day, we will have 100 percent tax compliance in Abuja and we will be able to sit down and say that I contributed to the building of this great city.”
He pointed out that the focus of the current administration for about two years now has been infrastructure, roads, rehabilitation of schools, hospitals and provision of other social infrastructure.
