By Onwa Ekor
Following the confusions which greeted the emergence of the new tax law, Cross River Internal Revenue Service (CRIRS), Tuesday, engaged stakeholders through a one day sensitisation meeting in order to boost their knowledge with clarifications and facts.
The event which took place at Event 45, Douglas Avenue in Calabar, brought together tax consultants, accountants, tax practitioners, business men, market women, among others.
Offering clarity on the contents of the new tax law, Executive Chairman, CRIRS, Prince Edwin Okon, disclosed that the federal government is harmonising and consolidating all taxes into nine, adding that local government revenue that were recognised by law have also been grouped into one, under the aegis of ‘User Charges.’
“The poor market women that are carrying water leaves, the new law is saying we should have a maximum amount to reduce their burden so that whatever they are paying will be one tax to cover everything,” Okon explained.
Other areas the Executive Chairman offered insights were, stricter penalties for tax offences, taxable income, the filing of returns to the tax authority by companies and organisations, stating names of staff, salaries and the 2026 projections by January 31 and the need for proper records keeping.
“Keep your records well, for if you keep your records well you will not have any issue when the tax authority comes to you,” Okon said, pointing out that, “you will be open to show the tax authority the information you have and the correct assessment will also be issued for you to pay what you ought to pay.”
CRIRS Chairman added that taxpayers can challenge tax assessments through the Tax Appeal Tribunal as contained in sections 23-35 of Joint Revenue Board of Nigeria (Establishment) Act, remarking also that, the introduction of Tax Ombudsman in Sections 36-49, would protect taxpayers and address complaints
Accountant General of the state, Dr. Gloria Effiong, averred that with a clear understanding of the new tax law, the tax base will be increased even as the reform will boost transparency hence the need for all to inculcate the policy of keeping properly the account books.
Assuring that Chartered Accountants would be reached to assist those involved on areas of bookkeeping and the expected tax to be paid, Effiong also encouraged MSMEs to take advantage of the new tax law where there are no multiplicity of taxes, to ensure their businesses thrives.
Chairman, House of Assembly Committee on Finance and Appropriation, Hon Cyril Omini, argued that taxation remains the pillar and structure of efficiency in government which enables it to work well, maintaining that the Lawmakers would make the reform work perfectly.
Others who spoke including the Special Adviser (Budget) to the Cross River governor, Otu Otuita and the Mayor of Calabar Municipal, Apostle James Anam, lauded the state IRS for the sensitisation meeting, reasoning that the organised tax system will check duplication of taxes which hitherto caused pains on the citizenry.
Earlier in her presentation on “Understanding the Nigeria’s tax laws,” CRIRS Head on Revenue Assurance, Dr. Patience Egwu, informed that the presentation seeks to draw affection to changes that are designed to boost revenue generation, promote tax compliance, attract foreign investment as well as drive economic growth.
