New Tax Identity Number Registration will Improve Efficiency-Fowler

The Chairman, Joint Tax Board (JTB), Mr. Babatunde Fowler, says the new Tax Identity Number Registration System will improves efficiency and output of the entire tax administration process in the country.

Fowler made the disclosure in his welcome address at the North-Central zone regional flag-off of the New Tax Identification Number (TIN) Registration System and National Consolidated Taxpayer Database, held Ilorin, the Kwara state capital. According to him the process will also enhances convenience to the taxpayers as well as the tax administrators, while guaranteeing that each taxpayer’s details are readily available to them at all times and anywhere.

Read Also: Itsekiri, Urhobo youths clash Over Burial Of Late Monarch

Mr Fowler explained that the revenue generation at the sub-national level had risen from N800. 02 billion to N1. 6trillion, representing 46.11% between 2016 and 2018.

According to him the jump in revenue collection by states has been underpinned by the economic policies of the Federal Government, which, among other things, have resulted in the expansion of the national tax base from 10million to 20million and is expected to rise to 45million by the end of the year.

Mr Fowler noted that the growth in the collections by the Federal Inland Revenue Service (FIRS) from N3. 30 trillion in 2016 to N5. 32 trillion in 2018,which was the highest ever and representing 53.81%; while non-oil revenue climbed to N2. 85trillion, an equivalent of 54% of total revenue generation.

He maintained that the New TIN Registration System is underpinned by a common desire by stakeholders to drive the financial regeneration of the country.

Mr Fowler said this desire will be strengthened by the new system, which will lay the foundation for government at all levels to have access to the funding required to drive socio-economic growth and development exclusive of aids, grants and borrowing.

He said the choice of Kwara State for the North-Central regional flag-off of the New system was based on the state’s sustained effort on internally generated revenue profle.

“Having achieved a 221% increase in its collection from N7.1billion in 2015 at the time of attaining its autonomous status to N23billion in 2018, Kwara State Internal Revenue Service (KWIRS) has become a benchmark for revenue authorities not just within the North-Central Region, but nationwide as well.

“It is worthy of note that KWIRS is the only state revenue agency to in the country to have been ISO certified, with ISO 9001 for Quality Management System and ISO/IEC 22301 for Business Continuity Management System,” Fowler said.

He said that other states in the region are not left behind, noting that Niger State and Nasarawa State are among the top 15 states with an annual growth rate in excess of 20%.