7.5% VAT Increase Effective February 1
AMINA HUSSAINI, Abuja
Upon the completion of the necessary administrative procedures and in gazette, the new Value Added Tax (VAT)will become effective February 1.
Minister of Finance, Budget and National Planning, Zainab Ahmed said Thursday in Abuja.
Ahmed speaking at the inauguration of the 14 board members of the federal inland revenue service (FIRS). said that going forward, the annual budget will always be accompanied by Finance Bills to enable the realization of revenue projections.
“Future Finance Bills will therefore also provide us with additional opportunities to incrementally improve the fiscal policy and regulatory/legal environment in order to further strengthen our domestic capital market, and ultimately ensure sustained and inclusive growth and development.”
“I want to encourage the new board to ensure steadfastness of the service in meeting non-oil revenue target to support government development”she added.
The executive chairman FIRS, Muhammad Nami, who was undaunted by the enormity of the task ahead said the officials are ready to work for the benefit of the nation.
“As tax administrators and custodians of the Nigerian Tax System, we have a responsibility to the nation to implement all tax policies and laws in a manner that would ensure optimal benefit to the nation.
“Indeed, leadership is all about shared vision and responsibility. Let me assure you that we intend to build on the achievements of my predecessors in the ce while building a tax administration that would not only deliver on its mandate but also
that which we shall all be proud of.
“We shall do everything within our powers to achieve our collective goals to justify the confidence reposed in us. Let me stress the fact that the task before us can only be discharged efficiently if we work together as a team and as a united Board and as well as work in harmony with the Management and Staff of the Service” e added.
BELOW IS THE LIST OF THE NEWLY INAUGURATED FIRS BOARD MEMBERS
S/N |
Name |
Institution/Region |
Current Position |
|
Mr. Muhammed M. Nami |
Executive Chairman, FIRS |
Federal Inland Revenue Service, Wuse Zone 5, Abuja |
|
Mr. James Yakwen Ayuba |
Member representing the North- Central Zone. |
Rayfield Jos, Plateau State. |
|
Mr. Adam Baba Mohammed |
Member representing the North- East Zone. |
Sabon Garin Kanuri, Nguru, Yobe State |
|
Mr. Ado Danjuma |
Member representing the North- West Zone. |
Harley Reed (Nigeria), Block SB1 Suite 14, NNPC QTRS, Garki Area 11, Abuja. |
|
Mr. Ikeme Osakwe |
Member representing the South-East Zone. |
3b Taofik Lawal Street, Ikoyi, Lagos State. |
|
Mrs. Ehile Adetola Aibangbee |
Member representing the South-South Zone. |
KPMG Lagos State |
|
Mr. Adewale Ogunyomade |
Member representing the South-West Zone. |
Plot 9/10, Block X, Laderin Estate Scheme, Laderin GRA, Abeokuta, Ogun State. |
|
Barr. Ladidi Bara’atu Muhammed |
Member representing the Hon. Attorney-General of the Federation/ Minister of Justice (AGF) |
Federal Ministry of Justice Abuja |
|
Haj. Fatima Z. Hayatu |
Member representing the Hon. Minister of Finance |
Director, Technical Department Federal Ministry of Finance, Central Area, Abuja |
|
DCG Mairo Talatu Isa |
Member representing the Comptroller General, Nigeria Customs Service. |
Deputy Comptroller-General, Nigeria Customs Service, Abuja. |
|
Mr. Umar Ajiya |
Member representing the Group Managing Director, NNPC. |
Group Executive Director, Finance NNPC NNPC Towers, Abuja. |
|
Mr. Folashodun Adebisi Shonubi |
Governor Central Bank |
Governor Central Bank, CBN HQ, Abuja. |
|
Mr. Garba Abubakar |
Registrar General, Corporate Affairs Commission. |
Registrar General Corporate Affairs Commission, Tigris Crescent, Maitama, Abuja. |
|
Mr. Samuel Adaa Maagebe |
Member representing the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) |
Commissioner representing Benue State at the Revenue Mobilisation, Fiscal Allocation Commission Central Business District, Abuja. |
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