Promote Awareness On VAT Collection And Remittance – Gov Otti Charges MATAN
The Governor, Dr Alex Otti has charged the members of Market Traders Association of Nigeria MATAN to think creatively on how to promote awareness on VAT collection and remittance in the marketplace and informal sector.
Governor Otti who gave the charge at Government House Umuahia when he received the executive of Market Traders Association of Nigeria MATAN, stressed the need to simplify VAT payment and remittance for the informal sector using a purpose-built digital system.
The Governor represented by his Chief of Staff, Pastor Caleb Ajagba, emphasized the need to use the VAT Direct Initiative VDI to tackle multiple taxations in marketplace through partnership with security agencies, adding that the move when fully implemented will help curb the activities of touts, miscreants and self-imposed tax collectors involved in illegal tax collection in the nation’s market spaces.
The state Chief executive while commending them on the laudable initiative, enjoined them to develop greater interest in the welfare and protection of the citizens, assist in the fight against fake products and promised to support them in their programs.
In his address, the Chairman of Market Traders Association of Nigeria MATAN, Mr Nwannekolam George said the association is the umbrella body for all trading associations in Nigeria and the largest player in the nation’s market space with a membership of well over 40 million traders across the country.
Mr Nwannekolam further explained that MATAN has a digital platform which enumerates their members, gives them a digital ID and tracks their turnover so that VAT accrued is collected and remitted to the Federal Inland Revenue Services FIRS.
Also speaking, the National Adviser of MATAN, Mr Nnanna Obasi and the Contact and Mobilization officer, Mr Temple Anyatonwu said the VDI which is the first of its kind of programme is designed to utilise technology to foster collaboration between FIRS and the marketplace for the collection and remittance of VAT.
The move will boost VAT revenue generation for the three tiers of government, which will be used to fund infrastructure, provide social amenities and cater for the welfare of citizens.
They further commended Governor Otti for his developmental strides across the state and also used the opportunity to intimate and invite him to the South East Zonal inauguration of the association scheduled to hold in a fortnight.
The meeting featured goodwill messages and presentation of the association’s materials to the Governor by the group.