The Joint Tax Board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing data of high net worth individuals to profile income earners and taxpayers in order to get them pay appropriate taxes.
According to a statement, 12 states have signed the memorandum of understanding (MoU) under the Voluntary Assets and Income Declaration Scheme (VAIDS).
The JTB also announced yesterday that it has engaged a consultant to ensure that the databases of the state tax authorities and the FIRS â€œare speaking to each other.â€
It explained that the integration of data would help data sharing amongst states, improve compliance and tax revenue.
Executive Chairman of FIRS and JTB, Mr. Tunde Fowler, announced the MoU with states on VAIDS in Abuja during the 138th meeting of the JTB recently.
He said the integration of data amongst states between FIRS and JTB would help to identify high net-worth individuals, track their tax status and compliance.
According to him, â€œthere are no untouchables as regards the implementation of VAIDS.â€
Fowler said the federal government had demonstrated an uncommon political will to entrench tax compliance in Nigeria, saying issues of taxation are taking a centre stage in the country.
â€œSpeaking on behalf of the FIRS and the JTB, I want to assure you that we have received the blessing and political will of Mr. President, the Acting President to implement VAIDS.
â€œThe Executive is behind us, the Senate, the House of Reps, are behind us and the Judiciary is behind us. The government is behind us. It is now left for us to perform our duties in the right and best way.
â€œA lot of special things are happening to the country. We are changing the financial profile of the country and of course, taxation is in the forefront. I canâ€™t recall any time in the past when we had had such integration and cooperation.
â€œOur vision is to ensure that the governments, at all levels have enough resources to provide essential facilities to everyone. We are also moving away from taxes based solely on oilâ€”that are not predictable to non-oil taxes.â€
According to the FIRS boss, at no time in the history of the FIRS have states and JTB enjoyed such level of collaboration.
He stressed that collaboration was important. â€œStates cannot be said to be doing well if the FIRS is not doing well. In the same vein, FIRS cannot be said to be doing well if states are not doing well.
â€œBetween 25th and 29th September 2017, the African Tax Administration Forum, ATAF will be meeting in Abuja. Leaders of tax authorities will be in attendance.
â€œMany will come with their ministers. We believe that collaboration between heads of tax authorities and Ministers of Finance is healthy for tax work. We will encourage them to come,â€ he added.