Why FCT-IRS revenue Harmonisation initiative is crucial, by stakeholders

The revenue harmonization initiative in FCT-IRS is aimed at optimizing its revenue generation efforts, while ensuring simplicity, transparency, and accountability in the tax systems, the Executive Chairman, FCT Internal Revenue Service, Mr. Haruna Y. Abdullahi has indicated
Speaking in his opening remarks at a Town Hall meeting themed: Harmonization Drive: Shaping our Future Together, in Abuja on Monday, he said the newly introduced revenue harmonisation in the Federal Capital Territory (FCT) is a step that will involve all revenue generating agencies of the Administration.
“The Federal Capital Territory Internal Revenue Service Act entrusts us, the FCT-IRS, with the duty to collaborate with relevant stakeholders and agencies in harmonizing and improving our tax practices.
“This is aimed at optimizing our revenue generation efforts, while ensuring simplicity, transparency, and accountability in our tax systems.

Abdullahi, while speaking on the legal frameworks that guides the revenue harmonization initiative, noted that section 46 of the Act outlines the functions of the FCT Joint Revenue Committee to include, “harmonize tax administration in the FCT, deal with revenue matters of common concern to the FCT and Area Council,” among other functions.

He urged all stakeholders to keep the legal provisions in mind because they will serve not just as the guide, but also as their commitment to fairness, efficiency, and collaboration.

“Remember, our Harmonization Drive is not just about increasing our revenue. It is about building a system that works for all of us, a system that respects the contributions of every stakeholder, and a system that uses these contributions for the benefit of all.he expressed the confidence that the discussions at the town hall will mark a significant step in the journey towards achieving the goal.
“I am eager to hear your insights, concerns, and suggestions, and I am certain that together, we can shape a prosperous and sustainable future for our beloved state.

“We gather here today with a common purpose—to drive positive change and shape the future of our capital city.
“The Harmonization Drive is not merely an administrative reform; it represents a catalyst for socioeconomic development. “By harmonizing and simplifying our revenue collection systems, we can unlock the full potential of our resources and pave the way for sustainable growth, improved service delivery, and enhanced quality of life for our citizens.

The Permanent Secretary (FCT) Mr. Adesola Olusade, in his keynote address at the event, reiterated that the harmonization drive is not just a routine administrative exercise but an initiative with tremendous potential to impact on the revenue drive of the territory.

“By simplifying and consolidating our revenue collection systems, we aim to attract more investment, stimulate economic growth, and create employment opportunities.
“This will enhance the FCT’s reputation as an investment-friendly destination and contribute to the overall development of the region.

“Furthermore, the harmonization initiative will promote fairness and equity in revenue collection. By ensuring that all eligible individuals and businesses contribute their fair share, we can distribute the burden of taxation more equitably and reduce the tax evasion that hampers revenue generation. “This will enable us to provide essential services, infrastructure, and social amenities that improve the quality of life for all residents of the FCT.”
The executive chairman of Abuja Municipal Council Honorable Christopher Zakka Maikalangu in his key note address encouraged all AMAC residents to continue payment of taxes to harmonized accounts of the FCT FIRS so that the people can have good roads, electricity, schools, potable water, youths and women empowerment, among others. “There should not be any cash payment to anyone who claims to be representing AMAC.
“Our taskforce have been doing well in apprehending illegal revenue collectors and will continue to aid the FCT FIRS in apprehending illegal revenue collectors and invaders.
The chairman canvassed for the AMAC taskforce on revenue monitoring and collection to be collapsed into the FCT-IRS to ensure more transparency, accountability and trust, so that the taskforce can continue aiding the FCT-IRS in apprehending illegal revenue collectors and invaders.