Fear Grips Many As Defaulters of Income Tax in FCT Risk 3-Year Jail Under Wike
The minister insists on no tax clearance and no service delivery to customers in banks across FCTA.
The Honorable Minister of the Federal Capital Territory (FCT), Nyesom Wike, has charged financial institutions to commence a strict implementation of the Personal Income Tax and the FCT Internal Revenue Service Act 2015, as part of efforts to boost revenue in the territory.
The minister insists on no tax clearance and no service delivery to customers in banks across FCTA.
Following Wike’s directive, banks, Federal Government Ministries, Departments and Agencies (MDAs); and FCT Secretariats, Departments, and Agencies (SDAs) will henceforth demand and verify Tax Clearance Certificates (TCC) before providing services to individuals, corporate organizations in the capital city.
The immediate past Rivers State Governor, enjoined the institutions to ensure strict compliance with the laws, particularly Section 85 of the Personal Income Tax Act (PITA) and Section 31 of the FCT Internal Revenue Service Act 2015.
3 years jail term awaits defaulters of income tax
According to Business Day, Wike’s new directive has sent many residents into fear as penalties ranging from N1,000,000 fine to three years in jail as provided in the acts await defaulters as the new revenue generation exercise takes off.
Mandate secretary for Economic Planning, Revenue Generation, and Public Private Secretariat, Honourable Chinedum Elechi, revealed this at a press conference in Abuja on Monday, October 23.
