{"id":57789,"date":"2024-12-09T06:50:39","date_gmt":"2024-12-09T06:50:39","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=57789"},"modified":"2024-12-09T06:50:39","modified_gmt":"2024-12-09T06:50:39","slug":"fct-irs-establishes-unit-to-tax-high-net-worth-individuals-in-abuja","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/12\/09\/fct-irs-establishes-unit-to-tax-high-net-worth-individuals-in-abuja\/","title":{"rendered":"FCT-IRS Establishes Unit to Tax High-Net-Worth Individuals in Abuja"},"content":{"rendered":"<p><strong>By Njoku Chijioke\u00a0<\/strong><\/p>\n<p>The Federal Capital Territory Internal Revenue Service (FCT-IRS), has launched a dedicated unit to target over 10,000 high-net-worth individuals in Abuja, aiming to boost the Federal Capital Territory&#8217;s internally generated revenue.<\/p>\n<p>Michael Ango, the acting executive chairman of FCT-IRS, revealed that the unit will focus on assessing and collecting taxes from individuals earning an annual passive income of N25 million and above.<\/p>\n<p>This category includes salaried employees, self-employed individuals, business owners, and those with significant passive income.<\/p>\n<p>Ango emphasized that the new unit would also ensure compliance and enforce tax obligations among high-net-worth taxpayers.<\/p>\n<p>He urged individuals in this category to settle any outstanding liabilities within two weeks, stressing that voluntary compliance serves the mutual interests of taxpayers and the government.<\/p>\n<p>The FCT-IRS has already identified over 10,000 high-net-worth individuals whose combined incomes total trillions of Naira. Notices have been issued to these individuals, with the expectation of prompt responses.<\/p>\n<p>Failure to comply voluntarily, Ango warned, would compel the agency to enforce the law to recover outstanding taxes.<\/p>\n<p>This initiative aligns with efforts to enhance revenue generation in the FCT, a move crucial to funding the ambitious infrastructural projects championed by the Nyesom Wike-led FCT Administration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Njoku Chijioke\u00a0 The Federal Capital Territory Internal Revenue Service (FCT-IRS), has launched a dedicated unit to target over 10,000 high-net-worth individuals in Abuja, aiming to boost the Federal Capital Territory&#8217;s internally generated revenue. Michael Ango, the acting executive chairman of FCT-IRS, revealed that the unit will focus on assessing and collecting taxes from individuals [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":57790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,173,172],"tags":[],"class_list":["post-57789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports","category-business","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=57789"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57789\/revisions"}],"predecessor-version":[{"id":57791,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57789\/revisions\/57791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/57790"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=57789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=57789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=57789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}