We Are Making Efforts to Increase Tax Revenue – JTB

We Are Making Efforts to Increase Tax Revenue – JTB

The Joint Tax Board (JTB) Staff Multipurpose Cooperative Society says it has intensified efforts to increase tax revenue to meet with government’s obligations.

President of the society, Mr Collins Umenwosu, disclosed this at the maiden Annual Award and Dinner of the society in Abuja.

Umenwosu recalled that the chairman of the Federal Inland Revenue Service (FIRS) had said there was a target to increase tax revenue in the country and to also increase the tax-to-GDP ratio to 15 per cent.

He said: “We work with the Federal Inland Revenue Service to ensure we create a tax-friendly environment. Efforts are already ongoing to ensure that there is improvement in collections.

“You can’t also remove the fact that over the years, the revenue has increased drastically because last year, there was a significant increase as well.

“So the tax revenue both at the national and sub-national levels, we are making significant efforts at helping the government in providing revenue to meet its obligations.”

According to Umenwosu, the JTB society is a platform that has been set up to support what the JTB, as the primary organisation, has been doing to support the welfare of the staff of the board.

“We have expanded our scope to go beyond the staff. We have people coming from outside the secretariat to also join because; they have seen what we are doing and they have seen what we have been doing.

“We are here to ensure the staff are okay and taken care of in terms of financial support in whatever project they are embarking on.

“As the socio-economic challenges of the global landscape manifest their toll on our domestic society, the welfare and wellbeing of our members must be uppermost in our minds.

“Our ultimate desire is to ensure that all our members keep their heads above water in every ramification.”

On her part, the Secretary of the Joint Tax Board, Nana-Aisha Obomeghie, said the board was the umbrella body of all the tax authorities in Nigeria.

She said that the board had achieved quite a lot in the recent past with the elimination of all the multiple taxes that numbered up to 72 in the country.

“We have also moved the Tax Identification Number (TIN) registration system to a level where you can comfortably generate TIN in your bedroom either with your phone or laptop.”

Obomeghie also said that the board had ensured that the Internally Generated Revenue (IGR) of states moved significantly.

“In 2022, the 36 states and the FCT were able to generate N1.9 trillion, in 2021 we were able to generate N1.8 trillion.

“It’s been on the upward trend now. We hope by the end of 2023, we should be able to assist the states to move their IGR to over 12 trillion,” she said.

The secretary, however, urged members of the cooperative to continue to adhere to the general tenets and principles of cooperatives.

She also assured of the determination of the JTB management to corroborate any genuine effort focused on creating a conducive and peaceful atmosphere for progress.

One of the awardees, Mr Oseni Elamah, who is also the promoter and initiator of JTB Cooperative Society, appreciated the society for the award.

He said that cooperative societies were aimed at supporting members facing financial challenges.

“It is our little way of giving back to society. It is better to give back to society than to amass wealth for oneself alone.

“Wealth will mean nothing if not used to serve humanity and we have to do what is necessary to help humanity,” he said.

Highlights of the event were the cutting of cake and cultural performances by various ethnic groups.