FCT-IRS to Fine Tax Defaulters ₦500,000
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced that individuals and businesses in Abuja who fail to file their tax returns on time will face a minimum fine of ₦500,000.
Speaking at a tax awareness campaign in Abuja, the acting Executive Chairman of FCT-IRS, Mr. Michael Ango, urged taxpayers to submit their 2024 annual tax returns by January 2025 to avoid penalties. He explained that companies had until January 31, 2025, to file their employees’ annual returns, while individuals, including those unemployed, must submit their tax returns by March 31, 2025.
Ango praised companies that met the deadline and said they would receive letters of commendation. However, those who failed to comply would receive penalty notifications and reminders to file their tax returns. He warned that defaulters could also face prosecution.
“We believe voluntary tax compliance is the best approach, but if people fail to pay, we will have no choice but to enforce the law,” Ango stated. He also urged residents to register with FCT-IRS and contribute to the development of Abuja.
He emphasized that tax revenue is crucial for funding infrastructure projects like roads, schools, hospitals, and security. He assured residents that the FCT administration, led by Minister Nyesom Wike, is committed to making Abuja a world-class city.
“We want Abuja to have good roads, running water, reliable electricity, quality schools, and a safe environment. Tax payment is essential for achieving this vision,” Ango added.
Residents are encouraged to file their tax returns on time to avoid penalties and support the development of the city.
