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FIRS to verify Telcos’ taxes with API solution

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The Federal Inland Revenue Service (FIRS) has concluded plans to integrate an Application Programming Interface (API) technology solution, which will verify the accuracy of taxes paid by telecom operators, rather than relying on their account books.

This is part of the Memorandum of Understanding (MoU) which the FIRS signed with the Nigerian Communications Commission (NCC) on Tuesday.

According to a press release signed by Dr Henry Nkemadu, Director of Public Affairs, NCC, the signing ceremony took place on Tuesday in Abuja, with representatives of both agencies present.

The MOU was initiated as part of the FIRS’ efforts to ascertain accuracy and completeness of value-added tax (VAT) elements and other taxes payable in the transactions of telecoms operators.

It authorises the tax agency to integrate an application programming interface (API) technology solution with the systems of telecom Operators for independent verification of the amount of VAT that should be paid by mobile network operators (MNO) rather than relying entirely on the Operators’ books of accounts.

According to the FIRS Executive Chairman and Chief Executive Officer, Muhammad Nami, the MoU is mainly “to ascertain the completeness of tax transactions of mobile service providers to the Federal Government due to the shift of physical businesses to electronic-based business activities”.

Nami noted that the API was developed in-house, and is transaction-based – structured so that the tax agency has a basis for determining the completeness and accuracy of VAT elements in telecoms transactions.”

Prof. Umar Danbatta, the Executive Vice Chairman of NCC, noted during the signing ceremony on Tuesday that the NCC had conducted due diligence and followed due process to understand the import of the MOU before approving it.

“Our concern, as Regulator of the telecoms industry, is that we needed to be sure that it is not another way to tax telecoms Operators, who are already dealing with multiple taxation issues.

“We have also ensured that the integration of the solutions with telcos’ transactions systems will not in any way, impact the cost and quality of service delivery by the Operators to telecoms consumers”, Danbatta assured.

He added further that this new arrangement would not degrade the quality of service delivery to customers, or increase the cost of services.

 

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Business

BREAKING: Gas explosion rocks in Ipaja, Lagos

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An explosion has rocked a gas station in the Baruwa area of Ipaja in Lagos State.

It was gathered that the incident occurred around 05:45am.

First responders including men of the Lagos Fire Service and the Lagos State Emergency Management Agency have been drafted to the area.

Details later…

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Just-in: Fire guts fuel tankers, vehicles in Lagos

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There is a fire outbreak, which has gutted a fuel tanker, at Anthony inward Gbagada, Lagos State.

This was disclosed by the Federal Fire Service via its Twitter handle on Friday evening. The incident, which occurred around 10 pm, has razed at least two vehicles.

The agency urged road users to avoid the area and take alternative routes.

Also, the Director-General of the Lagos State Emergency Agency, Dr Olufemi Oke-Osanyintolu, confirmed the incident.

He said, “The Agency responded to distress calls and upon arrival at the scene of incident, it was discovered that a tanker with unknown registration number conveying PMS lost control while in motion and subsequently fell sideways.

“This led to an explosion in which two unidentified vehicles were burnt.”

A joint team of responders led by the Federal Fire Service, LASEMA, LASG fire service, LRU fire unit, Nigeria Police and LASTMA are working together to curb the inferno from escalating further.

Details soon …

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Business

Arik Air’s operation shut by Aviation unions

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Arik Air operation has been shut down by Aviation unions over the airline’s alleged failure to pay seven months’ salary arrears of workers.

This was disclosed by a source in the airline, who claimed anonymity because he is not permitted to speak on behalf of Arik Air.

According to him, aggrieved unions, the National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria decided to withdraw their services due to an alleged increment of Terminal levy by Bi- Courtney and other anti-labour practice.

Details later …

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