#Financial news

‘Seek redress if over taxed’

‘Seek redress if over taxed’

By Fatima Muraina
Tax payers have been told to seek redress if they discovered that they were wrongly  over taxed or overdeducted in the tax process of payment.

They were also urged to apply for a refund where they were not satisfied on any tax paid.

 These were part of the recommendations made by stakeholders in a communique issued at the end of a two-day training workshop organised for Accountants and Finance officers across the civil service held in Akure, the Ondo state capital.

The communique which was made available to The Hope, also called on Stakeholders in tax transaction to challenge all banks deductions found illegally done as well as circulars that are at variance with the federal laws.

It called for a regular reconciliation between federal and state agencies on tax remittances to avoid ambiguity and discrepancies.

It also emphasized the need to conduct massive sensitization for the public to ensure that tax payers fulfil the new obligation of tax payment it also advocated for as to raised the need to review some levies/laws on tax to reflect the current realities.

It highlighted the need for the MDAs to have inter-ministerial meetings in order to gain more knowledge and understanding on tax operations and managements in the state.

The communique which stressed the importance of  synergy and cooperation among stakeholders and agencies of government, urged participants at the training  to use the knowledge gained from the workshop in their various MDAs to achieve a great impact in revenue generation expected from them.

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