Communique of 126th Meeting

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The Joint Tax Board held its 126th Meeting on 16th July, 2012, at Transcorp Hilton Hotel, Abuja. The Board deliberated on various issues and reached the following major decisions:

1.    That Tax Authorities should adopt strategies that will increase their Internally Generated Revenue.

2.    State Governments should compile their revenue laws in order to minimize the menace of multiple taxation.

3.    The Board notes that Internally Generated Revenue (IGR) of a state is the total income of that state from all sources excluding statutory allocations from the Federation Accounts. It therefore, resolved that State Boards of Internal Revenue should monitor all revenue from Ministries, Departments and Agencies (MDAs) for proper accountability and planning.

4.    The Board approved downward review of the enhanced Vehicle and Motorcycle Number Plates with effect from 1st August , 2012 as follows:

 

Standard Plates:     Revalidation                    N 10,000.00

 

                                   New registration               N 12,500.00

 

Motorcycle Plates:   Revalidation                     N 2,000.00

 

                             New registration               N 2,500.00

 

5.    Prices of other categories of Number Plates and Drivers Licence remain the same and deadline for revalidation of the Number Plate and Drivers Licence is 1st October 2013

6.    That the Biometric Central Motor Registry (BCMR) or Electronic Central Motor Registry (ECMR) is not a requirement for registration of Motor Vehicles.

7.    That the Taxpayer Identification Number (TIN) Project is ongoing and registration has commenced in the pilot states.

 

Year of Meeting: 
Monday, July 16, 2012