CSOs knock FIRS over proposed social media tax – GCFRNG

CSOs knock FIRS over proposed social media tax – GCFRNG

FIRS Center, Abuja

Civil society groups on Monday criticized the Federal Inland Revenue Service for its decision to impose taxes on social media programs.

The FIRS is now seeking the support of the National Assembly to amend the Monetary Policy for the purpose of attracting online business and social media to its tax net.

The chairman of the company, Muhammad Nami, said this during the ongoing collaboration between the Senate Working Committee on the mid-term budget process and the budget. and the budget, as well as the heads of the federal finance companies.

Nami said that apart from hunting down the social media business, the proposed amendment to the Money Laundering Act would also affect the Stamp Duty Act because some provisions no longer exist.

He said, “You know the digital economic crisis and the challenge of policing digital taxpayers like Twitters and Facebook.

“So, we have to come up with a set of rules and regulations that the National Convention will look at and support us so that we can bring them in with the tax net.

“We want to find a way to pay tribute to the event and the online business.”

But echoing this plan, the head of the civil society, Legislative Advocacy Center, Auwal Rafsanjani, cautioned financial institutions not to do anything that would affect the business of Nigerian youths. struggling to survive.

Rafsanjani said, “There are many ways in which FIRS can investigate to get funding.

“This agency should not involve other young Nigerians who are struggling to survive and use social media to promote their businesses.

“FIRS should focus on taxing companies that benefit from advertising and not subscribers to social media platforms.

“Those who sign up on those platforms and display their business there should not be taxed. The tax rate should be available to the beneficiary companies. ”

Also, the founding Director of Women Advocates Research and Documentation Center,

Dr Abiola Akiyode-Afolabi, described this as another plan to shut down social media against people.

Akiyode-Afolabi said, “The government cannot do everything by giving back to the people.

Also read
VAT issue: FIRS could lose state funds of N2.4tn
Taxation: MultiChoice violated FIRS in court decision
The court ordered Multichoice to reimburse FG N900bn in taxes
“While taxation continues, Nigeria should follow the best course of action.

“This is another attempt to close the loophole against the people. This effort should be resisted; the government should focus on giving its citizens good governance, not punishing the people for misery and other exploits. “

However, the CEO of the Center for Public Accountability, Olufemi Lawson, said all Nigerians who do business in any form must pay taxes.

He said, “I think the FIRS must ensure that everyone, and all businesses in Nigeria must pay this tax, as long as it is legally binding.”

Nami told lawmakers that the budget law should follow the budget every year.

He said the company would look into feedback from taxpayers and its internal work to close the gap in tax law.

He said, “The Stamp Duty Act was enacted in 1962 and the figures in the Act do not apply.

For example, some 100 toys are in the 10 kobo or kobo area. .

“For example, if we spend N5 to print a stamp when the tax will be 15 kobo, I think it will not be necessary for us to collect the tax in advance.

“These and other factors are some of the things we have found to be in line with the changing business model, we will regulate taxation easier and help us prevent redemption and fundraising for three levels . government.

“We are not increasing or decreasing some rates but let’s change the numbers to reflect the current reality.”

Senator Solomon Adeola, chairman of the Senate Committee on Finance and Coordinating Committee for the Red House working with MTEF / FSP, said the plan would help the FIRS fulfill their financial predictions. acquire N10tn in 2022.

Check For More Information Below

Leave a Reply

Your email address will not be published.