The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged all residents in the nation’s capital to file their Annual Income Returns before the deadline of March 31st, 2025.
In a statement issued to journalists by the head of corporate communications of the FCT-IRS, Mustapha Sumaila stated that the filing of annual returns of income from all sources is mandatory for all taxpayers, including those in employment (private and public sector), public office holders (elected and appointed), those in self-employment, including business owners and partnerships/enterprises resident in the FCT for the preceding year, 2024 and must be filed in the manner and within the time specified by law.
In this regard, Mr Sumaila said that the Personal Income Tax Act, provides that “for each year of assessment, a taxable person shall, without notice or demand therefore, file a return of income in the prescribed form and containing the prescribed information with the tax authority of the State in which the taxable person is deemed to be a resident.”
He added that, this is to be filed with a true and correct statement in writing containing the amount of income earned by the taxpayer from every source of the year preceding (2024) the year of assessment (2025) and other information that may be required by the law with respect to any such income, allowance, relief, deduction, or otherwise as may be relevant for the returns.
The head of corporate communications of the service further stated that, the law also provides that the return shall contain a declaration that shall be by or on behalf of the taxable person that the return contains a true and correct statement of the income computed in accordance with the provisions of the Personal Income Tax Act.
Sumaila revealed further that, there is a strict deadline for filing the annual income returns, which is within ninety days from the commencement of every year of assessment and this falls on 31st March, 2025.
He noted that failure to file the returns by 31st March, 2025, will result in FCT-IRS issuing a best of judgement assessment on all defaulters, which they would be required to pay in line with the provisions of Section 54(3) of the Personal Income Tax Act, along with other criminal and civil sanctions as prescribed by the law.
It will be recalled that the Acting Executive Chairman of the FCT IRS, Mr Michael Ango, has been leading the campaign for voluntary tax compliance by all residents of the FCT. According to him, it is in the interest of taxpayers to comply voluntarily, as any default would be treated seriously.
Ango noted that given the efforts of the FCT administration under the Minister of the FCT, His Excellency, Ezenwo Nyesom Wike, CON to improve infrastructure and social services in the FCT, it is incumbent on all taxpayers to contribute to the continued development of the territory by paying their taxes and filing returns as required by law.
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