The Bauchi State Board of Internal Revenue Service (BIRS), yesterday, enlightened members of the state’s Furniture Producers’ Association on the newly introduced income tax policy codenamed ‘Presumptive Tax System.’
In an interactive session with officials of the association, the chairman of the informal sector in the board, Alhaji Idris Isa Lere, pointed out that, the presumptive tax system is to be remitted by members of the non-formal sector through the Internal Revenue Board.
He further explained that the tax which comes from the profit of every investment is to be paid once a year, and stressed the importance of tax payment by the informal sector.
“I want to appeal to you as the officials of this association to mobilise your members to ensure prompt remittance of their taxes for effective service delivery. We want collaborative efforts aimed at supporting the government in the implementation of its developmental policies and programmes,” he said.
Lere assured of the board’s support and cooperation with all the stakeholders in tax management to assist the state government to achieve the desired result in the sector.
Responding, the chairman of the furniture producers league, Shehu Muhammad appreciated the board’s efforts in mobilising resources for the government to improve the state’s economy.
Muhammad assured that the association would mobilise its members to ensure compliance with the new tax policy.