MTN, Airtel, Others Appointed By FIRS To Withhold VAT Charged To Them
MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value Added Tax (VAT) charged on all taxable supplies made to them, and remit to the Service.
This is contained in a Public Notice issued to them by the FIRS on the 1st of November, signed by its Executive Chairman, Muhammad Nami, explaining the role of the companies as well as the obligations of their suppliers with regards to the withholding of Value Added Tax.
‘This Notice is given to all persons carrying on trade, profession or business of any kind, tax practitioners and the general public that, with effect from 1st January, 2023; in line with the provisions of Section 14(3) of the Value Added Tax Act Cap. V1 LFN 2004 (as amended), the following companies are appointed to withhold or collect VAT charged on all taxable supplies made to them: MTN; Airtel; and all money deposit banks—as defined by the CBN Guidelines.”
The FIRS noted that these companies were expected to remit the tax they would withhold on or before the 21st day of the month immediately following the month the tax was withheld, in the format prescribed by the Service.
“The companies shall remit the tax withheld or collected, in the currency of transaction, to the Service on or before the 21st day of the month immediately following the month the tax was withheld or collected;
‘The tax withheld or collected under this notice shall be remitted in the format prescribed by the Service but separately from VAT due on the companies’ taxable supplies.”
The notice further explained the options that were available to suppliers of these companies whose output tax is withheld.
“A supplier whose output tax is withheld, as provided in this notice, may deduct the input tax paid on the goods purchased or imported to make the taxable supply from the output tax collected on other taxable supplies,
“And where the input tax paid to make the supply is not fully recovered from the output tax on other taxable supplies, the balance is refundable to the supplier; provided that a supplier who is entitled to a refund may utilise the amount refundable to offset future VAT liability or request for a cash pay-out,” the Notice explained.
It further noted that the Service has instituted adequate measures to ensure prompt payment of refundable input tax under this arrangement, while also stating that input tax claims, which include refunds, are subject to the limitations imposed by Section 17(2)(a) of the VAT Act.
ANTI PARTY ACTIVITIES: Esan Central APC, Suspends Nine Leaders, Appoints Bello
Nine Leaders of the All Progressives Congress (APC) in Esan Central LGA have been suspended at an extraordinary meeting held this evening at Irrua, the LGA capital.
The suspended leaders include APC State Vice Chairman, Chief Francis Inegbeniki, Esan Central foremost Party Leader, Prince Willy Shaka Momodu, Ward Leader, Hon Abudu Ugbesia, among six others.
The suspended nine APC leaders are alleged to have held a clandestine meeting at a hotel in Eidenu, Irrua on the eve of the House of Assembly election and resolved to work against their party candidate for the House of Assembly election, Hon Victor Edoror. It is alleged that they were induced by the ruling party and their grand conspiracy to disallow Hon Edoror to get into the House and become the Speaker which might scuttle their agenda for Esan governor candidate from Esan Central LGA.
The meeting which was attended enmass by angry members and party executives of the party across the LGA appointed former LGA Councillior, and House of Assembly election aspirant, Hon. Bello Oyaziwolo, as the acting Leader, to oversee the affairs of the party pending the determination of the investigation into the degree of involvement of each of the suspended leader.
Interestingly, the Deputy Leader of the Party in Esan Central LGA and former Vice Chairman of the LGA, Hon Francis Ubene, was exempted from suspension because preliminary investigation revealed that he was in the meeting allegedly called by Chief Inegbeniki, but he refused to agree with their alleged plan to sabotage the election for Hon Edoror because according to him “I have forgiven him and if I have forgiven him, I cannot work against him or the party”.
Speaking with Hon Bello, after the appointment, the new LGA Leader said he was not interested in Leading the party for selfish reasons but would commit himself to helping the party rid itself of betrayals and inept leaders in the LGA and hopefully allow a free process to produce the next LGA Leader.
Delta: Oborevwori’s Victory, A Turning Point, Says Ebireri
Media Consultant, Henry Ebireri, has urged Delta State governor-elect, Rt. Hon Sheriff Oborevwori to embark only on programmes that are genuine, attainable, purposeful, durable and people-oriented.
He also urged him to make a significant impact at improving the lot of the masses.
In a statement in Sapele, the media consultant described the March 18 governorship election in Delta State as ‘’’a turning point, a landmark in the history of the oil rich state’’.
He appealed to Oborevwori to steer Delta State in the needed direction.
‘’There is a very high expectation from the governor-elect by the people. He must direct his energy towards inculcating the spirit of self-reliance among the citizenry through economic and empowerment programmes’’
The media professional listed security, youth and women empowerment, agriculture, health, education, infrastructural development, industrial revolution, cultural and tourism rebirth, communication and sports development as key areas to be addressed by the governor-elect.
The statement underscored the future of Delta youths infrastructure and security challenges.
He urged Oborevwori to be fair to all.
He also urged him to recruit only qualified, competent and meritorious hands to help him develop the oil-rich state.
‘’They should be people of integrity, honesty and trust. The team should comprise only tested, dedicated, loyal, courageous, selfless, focused and visionary men and women’’
Ebireri further commended Governor Ifeanyi Okowa for his immense contribution to the political development of Delta State.
Senator Ovie Omo-Agege Rejects INEC’s Declaration of Oborevwori As Winner of Delta Poll
A while ago, the Resident Electoral Commissioner (REC) in Delta State announced Rt. Hon. Sheriff Oborevwori, gubernatorial flagbearer of the Peoples Democratic Party (PDP) as the governor-elect following the March 18 governorship election.
The declaration was made despite the myriad of infractions and acts of impunity on the part of the PDP in the course of the election. These were brought to the attention of INEC with incontrovertible proof.
The March 18 election was characterized by massive fraud, unprecedented vote buying and voter suppression perpetrated by the PDP in the course of the election.
The fraudulent nature of PDP’s so-called victory are just too damning and daring for it to be acceptable in any decent society. Most of those infractions are on the public domain and known to INEC officials and the security agencies involved in superintending the election.
In the February 25 Presidential and National Assembly elections, the results pointed to an unequivocal rejection of the PDP. Of the three senatorial zones in the state, APC won two while PDP controversially edged out the Labour Party in the Delta North Senate race.
It was an unadulterated verdict of Deltans on how they have fared under 24 years of governance of their state by PDP.
On the basis of the factors listed and more that will come later, Senator Ovie Omo-Agege, governorship candidate of the APC in Delta State as well as the leadership of the party, unequivocally reject the declaration by INEC of Rt. Hon. Sheriff Oborevwori of the PDP as winner of the March 18 governorship election.
We will challenge this fraudulent result using all legal means.
As a democrat and Deputy President of the Senate, Omo-Agege will explore all lawful avenues to reclaim the mandate freely given to him by the good people of Delta State.
To the numerous supporters of APC and the entire public that share in Omo-Agege’s vision of building a new Delta State, we urge you all to remain calm, peaceful and law abiding.
I can assure all our teeming supporters and all Deltans that the PDP pyrrhic celebration of a stolen mandate will be short-lived.
By the grace of God and the clearly expressed wish of the people, this electoral heist will be reversed and Senator Omo-Agege will be sworn in on May 29, 2023 as the lawfully elected Governor of Delta State.
Chief Press Secretary to the Deputy President of the Senate and Governorship Candidate of APC, Delta State, Senator Ovie Omo-Agege
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