The Market and Traders Association of Nigeria (MATAN) has requested for an ”update” from the Federal Inland Revenue Services (FIRS) on collection of a special Value Added Tax (VAT).
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The association made the request in a letter, dated Feb. 3 and signed by its National President, Alhaji Jamilu Abbas, to the FIRS chairman.
An acknowledged copy of the letter, made available to the News Agency of Nigeria (NAN), confirmed that the letter was received by the Chairman’s Registry on Feb. 5.
The document is titled ”Request for update of FIRS & MATAN MOU on the VAT Direct Initiative (VDI)”.
Abbas said the VDI was an initiative of MATAN through the Joint Tax Board (JTB), courtesy of the association’s Integrated Market Traders Management System (IMRMS) through a letter dated Sept. 13, 2022.
“While chronicling the detailed engagements that led to the signing of the MOU between MATAN and JTB, the association stated that FIRS wrote MATAN on collaboration for VAT compliance in the informal sector of the nation’s economy.
”This translated into the signing of the MOU between MATAN and FIRS on the VDI,” Abbas said.
He said FIRS had on June 16, 2023 written two separate letters, engaging MATAN on Automated VAT Collection and as VAT collection agent in the haulage services operators sector.
Abbas said both appointments were accepted by the association, which culminated in the launch of the traders proposed multipurpose ID Card.
He said MATAN was engaged in several partnerships with many organisations across the country, including Burke – Frazier and ALGON, on the successful strategic implementation of the MOU.
”It is in view of the aforementioned that we are seeking an update on this laudable Initiative’ after a long silence,” he said.
(NAN)
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