The Federal Inland Revenue Service (FIRS) is seeking the retention of the collection of the Value Added Tax in the exclusive legislative list at the National Assembly.
This is ontained in a letter signed by the Executive Chairman of the FIRS, Muhammad Nami, and dated July 1, 2021, and addressed to the Chairman of the Constitution Review, Idris Wase.
The letter with references number FIRS/EC/CWREP/0416/21/037, which was received in Wase’s office on July 2, was titled, ‘Request for sponsorship of a bill for the establishment of the proposed Federal Revenue Court of Nigeria and the insertion of Value Added Tax under item 58 of the exclusive legislative list’.
READ ALSO: VAT Collection Bill Scales Second Reading at Lagos Assembly
The tax agency for the Federal Government is also requesting the federal lawmakers to approve the establishment of the Federal Revenue Court of Nigeria.
This is following a ruling by the Federal High Court in Port Harcourt had in August restraining the FIRS from collecting VAT and personal income tax in Rivers State.
Although the FIRS had appealed the ruling, it, however, failed to obtain a stay of execution it sought to prevent the state government from enforcing the verdict.
The FIRS specifically is asking the legislative arm of the government to vest, exclusively, all adjudication of tax disputes, including federal tax laws, companies income tax, petroleum tax, income tax, capital gain tax, stamp duty, VAT, taxes, levies and other laws, regulations, proclamations, government notices and rules on it.
