The Accountant General of the Federation (AGF), Ahmed Idris, has hinted that a joint committee of his office and Joint Tax Board (JTB) would soon be constituted to reconcile variation observed in the monthly Pay As You Earn (PAYE) tax remittances.
Idris who said this in Abuja when Secretary of the Joint Tax Board (JTB), Obomeghie Nana-Aisha, led members of the JTB on a visit to him explained that the Joint Reconciliation Team will sit monthly to resolve issues concerning non-remittance and variations observed in remittance of monthly PAYE tax.
According to the Director of Information in the Office of AGF, Henshaw Ogubike, Idris at the meeting recommended that all matters concerning non-remittances, figures not agreeing on month by month basis as far as deductions are concerned, can easily be addressed if we have a common joint reconciliation team that will be sitting monthly, made up of officers from the OAGF and the JTB.
“Let there be an established team that will be looking at these figures,” he said.
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The Accountant General of the Federation who was responding to the Secretary of the Joint Tax Board’s observation regarding fluctuation and inconsistencies in PAYE tax remittance explained that variations in figures from time to time could be due to many legitimate reasons, adding that such differences are always corrected through the reconciliation of records.
“There are many legitimate reasons why variation arises from time to time, it is known to us as accountants that figures will never be the same from one period to another.
“That is why in accounting, reconciliation exercise is recognised so that figures are harmonised and the cause of the variations are revealed,” he said.
Idris reiterated the need for collaboration, partnership and synergy between his office and the Joint Tax Board and stressed that he and his office will continue to do everything possible to ensure that the two agencies attained their mandates.
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