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Tax Payers Responsibilities

  • Collect Annual returns forms from the Board for distribution to its employees

  • Collect Tax tables and operational guidelines for computation and deduction of taxes.

  • Deduct taxes correctly and remit to the Board as and when due

  • Ensure that the Annual Tax returns forms are properly and correctly completed by employees

  • Issue tax receipt (Rev. 15) to employees at the end of the year

  • Allow officials of the Board to conduct Tax Audit and other Investigations when the need arises

  • Issue transfer certificate to employee leaving the organization

  • Complete the employers annual returns form (Rev. 9) and submit to the Board every January

  • Notify the Board of the commencement of the P.A.Y.E scheme and

  • Notify the Board of the closure or temporary suspension of operation.

The tax collected by the board of internal revenue are:

  • Pay As You Earn

  • Director Assessment

  • Withholding Taxes

  • Stamp Duties

  • Motor Vehicle Registration

  • Driver License (ENDL)

  • Motor Vehicle license

  • Motor Vehicle Registration Booklets

  • Sales of Local Identity

  • Reflective Jackets

  • Proof of Ownership

  • Stickers

  • Learner Permit

  • New number plates

  • Capital Gains Tax

Offences and Penalties for Non-Compliance

  •  Failure to furnish returns, N200 plus N40,000 for everyday statement or Information, or during which the failure continues keep requested records s.86 (1)

  •  Failure to register for P.A.Y.E with N1,000 for the first month and the relevant Tax Authority N1,000 for each subsequent month and S.80 (5) and the premises shall be liable to be sealed up.

  •  Failure to deduct to remit within N5,000 plus the Tax deducted or 30days from the date of deductible and interest at prevailing deduction, the time the duty to commercial rate deduct arose S (73)

  •  Submission of false statement N5,000 or imprisonment for 5 years and returns (S 88) or both

  •  A tax officer who defrauds, embezzles, withholds tax N1,000 or imprisonment for 3 years collected renders false returns of amounts of tax collected or collects tax when not authorized (S 89 (a) & (b)

Benefits Derivable from Tax Payment

  • Effective Provision of Infrastructural Facilities i.e.:

    • Good road networks

    • Efficient health care services

    • Functional delivery of educational services

    • Effective communication facilities

    • Provision of water for domestic and irrigation

  •  Security of Lives and Property

  •  Issuance of tax clearance certification for processing of private and public transaction

Tax Operation Guide