Chairman of the Joint Tax Board (JTB), Babatunde Fowler, has stated that the Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database introduced by the JTB will ensure efficiency and output of the entire tax administration process and provide convenience to taxpayers and tax authorities.
Fowler, who is also the Chairman of the Federal Inland Revenue Service (FIRS), stated this in Lagos yesterday during the South-west Flag-off ceremony of the new system, which was launched in Abuja on 1 July.
According to the JTB Chairman, the new system will ensure’ that taxpayers’ information are available whenever and wherever they need them.
The system, Fowler said, possesses the capability to integrate with relevant agencies and leverage on already captured data, deploy analytics to discover underlying and correlating trends and patterns that could lead to increased Internally Generated Revenue (IGR) for all tiers of government.
These agencies, he added, include the Corporate Affairs Commission (CAC), Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS), Federal Road Safety Commission (FRSC), Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Identity Management Commission (NIMC) and Nigerian Communications Commission (NCC).
“This would significantly reduce the burden of manual taxpayer information management and by extension grossly crash the cost of collection.
“The system is designed in such a manner that each taxpayer is assigned a unique and universal Taxpayer Identification Number (TIN) and it is now possible for any taxpayer to view, retrieve or update his/her tax profile from anywhere 24/7,” he said.
The new TIN Registration System and its consolidated database of individual and corporate taxpayers’ have been designed to form the foundation upon which the nation’s automated tax administration system is built.
The Executive Secretary, JTB, Sir Oseni Elamah, said the new system is a web-based solution that offers access to authorized users to initiate TIN requests from the comfort of their homes/offices in real-time online, verify their tax status and print their TIN certificate.
“It is a transparent system that assures timely and accurate collection and recording of basic identification data.
“It also permits the tax administrator to understand its taxpayer base for effective revenue projections and other planning activities.
“By leveraging on existing data from relevant identity management agencies, the new System reduces the burden of multiple registrations of taxpayers as well as promoting the ease of doing business and paying taxes.
“It also ensures seamless integration and exchange of information amongst the various tax authorities within and outside Nigeria, as well as with other authorized stakeholders via web service,” he explained.