Residents of Abuja will soon be hit with a new tax regime, ministry of the federal capital territory (MFCT) has said.
According to Garba Shehu, presidential spokesman, John Chukwu, permanent secretary of the MFCT, made the disclosure while briefing President Muhammadu Buhari and Yemi Osinbajo, vice-president, at the presidential villa on Tuesday.
At the end of the briefing, Osinbajo urged the MFCT to explore alternative sources to boost its revenue base and reduce its dependence on the currently lean resources of the federal government for the development and maintenance of infrastructure in Abuja.
“With the coming of the FCT Internal Revenue Board and property taxation, you must be able to generate substantial income to take care of your needs,” the vice-president told Chukwu and other officials of the ministry.
He praised the permanent secretary and his team for a “very comprehensive, very detailed and adequate reporting” on the activities of the ministry. In response, the permanent secretary said that “all was now set for the introduction of a new tax regime in the FCT.”
“The property tax and the tenement rate will be collected together and a sharing formula has been devised between the ministry and the council areas in order to avoid multiple taxation,” he said.
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