Traders Association to Launch Digital Tax Remittance Card for Members
Elizabeth Christopher
The Market Traders Association of Nigeria (MATAN) is set to launch a digital Value Added Tax Direct initiative for its members to enhance tax remittances and mitigate multiple taxation of its members.
The President of the Association, who also doubles as the Chairman, Project Committee of VAT Direct Initiative (VDI) Mr. Olakunle Johnson, disclosed this when he paid a courtesy visit to the Director General, Voice Of Nigeria, Mr Baba Ndache.
Mr. Johnson said the digital card will be issued by the Financial institution and linked with members unique Tax Identification Number, TIN of members.
“The concept we have is called integration market revenue management system is to automate all the loopholes in revenues, We are going to be paying taxes to one government account. We are not going to be paid to unknown tax collectors again.
“Through our partnership we are coming up with digital identity for all our members across the nation, when we do the enumeration, the financial institution will issue this card to every member be it transporter, farmer, manufacturer, in every sector this card will be the linked to personal income tax numbers, government can be getting personal income tax through this.
“If we load goods from Kano and the goods is going to lagos, we won’t need to pay tax to unknown person’s on the road, we will use this digital card through POS to pay these taxes to governments account.”
Responding, the Director General, Voice of Nigeria, commended the group’s contributions in growing the country’s GDP and urged the group to help in re- shaping the narrative of the country.
“As Voice of Nigeria we are willing to partner with you in telling your stories, because our job is to amplify individual groups that are focused on depeening Nigerian story and improving on anything that will be positive on our country. That’s why we’re here. We are the only voice of Nigeria. There’s not any other. We are the voice of MATAN the voice of you as individual, see us as a platform. You can relate with us.
“The new organization framework of MATAN has made it possible for federal government to carry out its policy on SMEs. You should keep on that stood, there’s no economy that grows without support for SMEs and of course, you know, that is one of the focus s of the president and commander in Chief. We believe that the support of MATAN is key and will help broaden the tax base and boost government revenue among others and unlock the economic potential of the informal
sector”he said.
The Federal Inland Revenue Service (FIRS) had partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) to the FIRS from the country’s markets, especially in the informal sector.
