Finance Act 2020: NCC, sister agencies, to strengthen collaboration with FIRS — Prof. Danbatta

Parastatal agencies under the Ministry of Communications and Digital Economy have held an interactive session to discuss critical areas of synergy on the implementation of key provisions, in the amended Finance Act 2020, as they affected the operations of the agencies in the ministry.

The session, held under the auspices of an inter-agency committee headed by the Nigerian Communications Commission (NCC), also discussed areas of collaboration between sister agencies in the ministry, and the Federal Inland Revenue Service (FIRS), in relation to the Finance Act 2020, and for the common good of the economy.

The Executive Vice-Chairman of the NCC, Prof. Umar Danbatta, who made this known, on Thursday, in Abuja, noted that the Finance Act 2020, which came into effect on Jan.1, 2021, had introduced over 80 amendments to 14 different laws, and had implications for agencies under the ministry.

Danbatta cited some of the provisions, with implications for the agencies, to include, the provision of information for tax purposes and deployment of technology, for tax operations in the country, among others.

Also speaking, FIRS Executive Chairman, Muhammad Nami, said that there was the need for the collaboration as it would strengthen revenue generation, which would move the nation forward.

“We have come here to emphasise the need for cooperation and collaboration among the various agencies, in terms of revenue generation, in order to move the nation forward,” he said.

Heads of agencies in the ministry in attendance at the meeting made their contributions with respect to the implementation of the new finance law.

Other contributors at the session included the two sub-committees, that were formed to deliberate on specific areas that require further dialogue, for effective collaboration on the implementation of the new tax law, as it affects the agencies under the ministry.

The two sub-committees were those on FIRS/NIPOST and on FIRS/NITDA, expected to complete their assignment and make recommendations for consideration by the minister.

It was reported that the inter-agency committee, set up by the Minister of Communications and Digital Economy, Dr Isa Pantami, is being chaired by Prof. Danbatta, with membership comprising the Executive Chairman of FIRS and heads of the agencies in the ministry.