…Income Tax Returns: FIRS extends due date for coys***
Gov. Babajide Sanwo-Olu of Lagos State says residents of the state consume about N4.5 billion worth of food daily just as he reiterated his commitment to food security.
Sanwo-Olu said this at the opening ceremony of a two-day zonal sensitization workshop with the theme: “Implementation of Food Systems Transformation Pathways in Nigeria 2022,” on Monday in Lagos.
The newsmen report that the workshop was organized by the Federal Ministry of Finance, Budget and National Planning in collaboration with Lagos State Ministry of Agriculture and Lagos Ministry of Economic, Planning, and Budget.
Newsmen report that Lagos, Oyo, Ogun, Ondo, Osun, and Ekiti are participating with Lagos as a coordinating state for Southwest’s geopolitical zone.
The governor represented by Mr. Sam Egube, Commissioner for Economic, Planning, and Budget, said that the state had decided to take the bull by the horn in guaranteeing food security for people with different agricultural and food value chains.
According to him, Lagos has a rich history of economic growth and transformation.
“Although it covers only 0.4 per cent of Nigeria’s territorial land mass making it the smallest in the country.
“It accounts for over 60 per cent of industrial and commercial activities. Lagos is a coastal state and has an extremely limited arable land space and is home to about 21 million people.
“Its residents consume about N4.5 billion worth of food daily and 50 per cent of beef produced in the country running into several billion in other trading activities with markets cutting across all the local government areas in the state,” he said.
He called for joint collaboration among Southwest geopolitical zone to implement the Food Systems Transformation Pathways 2022.
Sanwo-Olu added that improving the food systems would influence positive changes and as well address multiple challenges being experienced in the country.
He said that the state agric roadmap was a deliberate effort to develop the agricultural sector by way of interventions from the public and private sector, international technical, and donor organizations.
“I am aware that the need for states across the six geopolitical zones to be adequately sensitized on the implementation of the National Food Systems Transformation Pathways is the basis for this workshop.
“It gives me great pleasure to note that Lagos State was selected to host the southwest geopolitical sensitization which I consider as an acknowledgment of the positive impacts our policies and efforts are making in the agricultural sector.
“As a state government, we will continue to provide infrastructure and incentives to support all private sector initiatives where required.
“History has shown that any society that is unable to provide food guarantee, its security is open to abuse and utmost danger,” he said.
The governor commended the efforts of the Federal Government on its unrelenting efforts to ensure that the food systems summit in conjunction with the United Nations is developed.
“I assure you that the Lagos State Government is fully committed to achieving a food secured Lagos and Nigeria through a partnership with all national and sub-national entities as well as the private sector and international technical and donor organizations.
He urged all participants at the workshop to show commitment by sharing ideas and opinions on the selected programs slated to kick-start implementation.
Mr. Mathias Schmale, the Resident & Humanitarian Coordinator, United Nations, commended the Federal Government for its consistent efforts toward sustainable food systems in the country.
Schmale who was represented by Mr. Isiaka Ibrahim, UN Coordinator in Lagos, reiterated that the UN would continue to work with the government and as well strengthen collaborations with all stakeholders in support of this transformational journey.
“Today marks another important step in the highly anticipated transformational change we have worked for in a partnership.
“The zonal sensitization workshop is designed to onboard all of us as we begin to bring synergy across states and regions.
“The momentum at which the Federal Government is accelerating the national food systems transformation pathways is highly commendable.
“Today, the government has identified three critical priority actions to be addressed at all levels to achieve food security and reduce malnutrition among the most vulnerable and at-risk populations in Nigeria.
“They are to achieve a sustainable food system that works for all; to ensure the achievement of all SDGs in the next decade.
Mrs. Olusola Idowu, the National Convener/Permanent Secretary, Federal Ministry of Finance, Budget, and National Planning, said an implementation team made up of key stakeholders had been constituted to develop an implementation plan.
Idowu noted that the workshop provides an opportunity to present and discuss the identified priority actions selected for implementation from January 2022.
She added that it would help to define and assign roles and responsibilities for effective implementation of the priority actions.
Idowu noted that the workshop was being held in all six geopolitical zones concurrently from July 4 to 8, focusing on three low-hanging fruit programs and 80 priority actions.
“Please, I make this passionate appeal that we all ensure that this implementation stage is truly for implementation.
“Wherein, we do less talk and more action so that we can impact lives of Nigerians,” she said.
- Abisola Olusanya, the Lagos State Commissioner for Agriculture, said that food systems remained an important part of the national economy.
Olusanya said that an effective food system had contributed to a variety of solutions to developmental challenges.
She said that there had been dialogues amongst all relevant stakeholders across the six geopolitical zones of the country since 2021 which gave birth to the National Pathways for Sustainable Food Systems.
In the meantime, the Federal Inland Revenue Service (FIRS), has extended the deadline for filing of Companies Income Tax (CIT) returns for the 2022 assessment from June 30 to August 31.
This is contained in a statement issued on Monday in Abuja by Mr Johannes Wojuola, the Special Assistant on Media and Communication to the Executive Chairman, FIRS, Muhammad Nami.
Wojuola said that the extension was to enable companies that were unable to meet up earlier to do so.
He said FIRS took the decision after receiving numerous calls from companies for the extension of time to submit the CIT returns for 2022.
Wojuola said that the decision was reached as a measure of goodwill and in line with relevant provisions of the Companies Income Tax Act.
“The FIRS has directed that all companies which CIT returns for the 2022 Year Of Assessment, that fall due between June 30 and August 31, 2022, are given up to August 31, 2022, to submit their returns to the Service,’’ he said.
The special assistant said that the extension was a one-off gesture by the Service for only the 2022 Year of Assessment on Company Income Tax Returns.
According to him, companies that filed within this period of extension would not be subject to late filing penalties or interest for late payment.
“The relevant Company Income Tax returns shall, therefore, not attract late filing penalty or interest for late payment if submitted to the Service on or before August 31, 2022.
“Where relevant Company Income Tax returns are not filed by the extended date, penalty and interest for late payment shall be computed from the original due date and not the extended date;” it said
The statement quoted Nami as saying “the extension only applies to the filing of Companies Income Tax Returns but does not extend to other taxes.
“This extension of the filing date is only for CIT and does not include returns for withholding tax, value-added tax, personal income tax (PAYE), etcetera,” it said.
The FIRS urged relevant taxpayers to take the opportunity of the extension to submit their CIT returns and pay their due taxes within the specified time of an extension.