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FIRS Proposes Road Tax to Shore up Dwindling Revenue

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road tax

By Ashemiriogwa Emmanuel

In order to expand the tax net and shore up the dwindling revenue in Nigeria, the Federal Inland Revenue Service (FIRS) is proposing to the federal government the introduction of a road infrastructure tax.

According to the agency, the framework will help the government in actualizing adequate funding for road construction, rehabilitation, and maintenance, as well as security for roads by making the informal sector to contribute to building a modern society.

The Executive Chairman of the FIRS, Mr Muhammad Mamman Nami, said this on Thursday, October 21, when he received delegates of the Nigeria Union of Journalists (NUJ) led by its National President, Mr Chris Isiguzo, in Abuja.

“The only way to make the informal sector contribute to building a modern society is by making them pay when they use the roads. That is why we are proposing that government should consider introducing Road Infrastructure Tax in Nigeria,” the FIRS boss disclosed.

He explained that the proposed road tax is viable and will not come as an additional burden to small business owners in the country given that, in many jurisdictions, these road users usually pay for the use of road infrastructure.

Stressing the potential dangers of tax evasion by some companies, the chairman said, “Without the tax that you pay, governments at all levels would not be able to fulfil their mandate to the electorates. Tax money also helps to ensure the roads you travel are safe and always in good condition.”

In spite of this reality, coupled with the low revenue from the sale of crude oil, he was quick to note that the FIRS has implemented significant reforms that have been yielding positive impact on the service’s operations, especially by leverage on technology.

He said, “Adopting technology in tax administration is crucial in improving domestic revenue mobilization in view of dwindling oil prices in order to avoid falling into a debt crisis.

“It is against this backdrop that the TaxPro-Max became the channel for filing Naira-denominated tax returns effectively from 7th June 2021.”

Explaining the seamless features of the solution, he stated that the TaxPro-Max offers a single-view to taxpayers for all transactions with the Service including the filing of returns, payment of taxes, and automatic credit of withholding tax.

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Ibadan Tanker Explosion: OYRTMA Issues Traffic Advisory

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OYRTMA

By Aduragbemi Omiyale

The Oyo State Road Transport Management Authority (OYRTMA) has advised road users to use alternative routes, while its men and other relevant agencies strive to return normalcy to the route.

This traffic advisory became necessary following an explosion of a petrol-laden tanker along the Agodi area in Ibadan, the state capital.

The Chairman of OYRTMA, Mr Akin Fagbemi, in a statement on Friday, stated that efforts were being made to bring the situation under control.

He stated that “the incident, which resulted to the slagging of powered electric poles and cables dangling across the road, portends danger to motorists plying the route hence, in the interim, the authority has barricaded the way from Total-Garden to Agodi-Gate, Ibadan to enable safety officials of relevant government agencies evacuate the affected vehicles and restore normalcy.”

“Motorists are advised to navigate towards the State Secretariat at the Total-Garden Round-about to link the Government Road towards the Kola Daisi Civic Center inwards Agodi-Gate to Iwo-Road,” he disclosed.

“Alternatively, Motorists could opt for the Premier Hotel road to link the State Secretariat and move as above.

“From Beere to Iwo-Road Motorists are advised to take the Oje-Market to link Agodi-Gate inwards Iwo-Road.

“Another alternative is for motorists to move from the State Secretariat and navigate Ikolaba via the Nigerian Customs Zonal Hq. to get to Iwo-Road, Ibadan,” he further stated.

The agency beseeched commuters to drive carefully around the affected area as its men and officers are working concertedly with relevant agencies to restore normalcy in the shortest time possible.

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Coscharis Partners Sterling Bank for Vehicle Finance Scheme

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Coscharis Motors

By Ashemiriogwa Emmanuel

A leading auto dealership in Nigeria, Coscharis Motors, has partnered with Sterling Bank Plc to offer a vehicle finance scheme to allow retail and fleet buyers to purchase their choice vehicles through a repayment plan from the bank.

The partnership has also seen that the auto company lists its vehicles on the bank’s Non-Interest Banking Division platform- AltDrive to equally promote e-commerce transactions.

With this, customers are offered an online retail marketplace where vehicular brands sold by Coscharis Motors can be accessed and purchased either through self-funding or credit finance from Sterling Bank.

The Coscharis Group General Manager, Marketing and Corporate Communications, Mr Abiona Babarinde, while commenting on the idea, said that, “We took this strategic decision earlier in the year to collaborate with relevant stakeholder partners to be able to give our numerous discerning customers and prospects alike the soft landing of owning any of our vehicles with ease in terms of providing friendly financial schemes.”

According to him, the repayment pattern can be expanded for up to five years, of which customers can choose between 15 per cent to 30 per cent initial payment.

He said this is coupled with the bank’s friendly interest rate and ease of accessibility to a plethora of car brands to aid customers’ ultimate satisfaction.

“This ultimately gives anyone the capability to purchase any of our brands with more convenient payment terms with any of our partners like the Sterling Bank.

“We started this initiative with one of our sister companies in the group, Coscharis Mobility, representing sixth in Nigeria amongst some other financial institutions while others are in the pipeline to come on board,” Mr Babarinde added.

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Ember Months: Makinde Urges Drivers to Drive Cautiously

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Drivers to Drive Cautiously

By Modupe Gbadeyanka

Governor Seyi Makinde of Oyo State has encouraged drivers across the state to be more careful during this last quarter of the year as the vigilance of everyone means safety for all while negligence of anyone portends danger to all.

He said this at the 2021 National Workshop for Proprietors and Training for Instructors of Driving Schools organised by the Federal Road Safety Corps (FRSC).

Mr Makinde promised to consolidate the existing relationship with the agency to reduce accident indexes in the state, particularly during the ember months, noting that the partnership will ensure continuous and adequate training of drivers across the State.

The Governor, who was represented by the Chairman of the Oyo State Road Transport Management Authority (OYRTMA), Mr Akin Fagbemi, said the collaboration was necessary at such a time when there are more vehicular movements usually associated with some haste, rush and unacceptable attitude of untrained drivers.

He commended the FRSC on the ongoing Driving School Standardisation Programme (DSSP) aimed at improving driving school operations in Nigeria.

He noted that the programme has developed uniform standards, safety consciousness, professionalism and proficiency in drivers’ education in the State.

Mr Makinde extolled FRSC saying, “the great successes recorded in monitoring and regulating the driving school industry through driver training education which is evident in the reduction of road traffic crashes over the years as a result of improved driver education in recent times.”

The Governor added, “It is also very important to note here, that training of learner and professional drivers must be carried out in accordance with standards enshrined in the driving schools training manual, with all the required training facilities in place, most importantly trainees must undergo all the sessions required for the type of vehicles they intend to learn how to drive and at the end must pass the Compulsory Computer Base Test (CBT) before the National Drivers Licence is issued to them”.

“Through these efforts put in place by the FRSC, Nigeria has been recognized globally by several organizations including the United Nations and other international road safety organizations. Our National Drivers Licence is now recognized and accepted by counties across the globe,” the Governor said.

Stakeholders at the workshop included the Oyo State Commissioner of Police, Director DSS Oyo State Command, Representative of the FRSC Corps Marshal, Representatives of the Comptroller General of Customs, NSCDC among several others.

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