LASG, GTBank, others to drive tax collection with E-payment
In order to further unlock embedded potential of the e-payment system, the Lagos State Government (LASG), has flagged off the electronic tax payment campaign of the state which will allow residents and citizens of Lagos State to pay their taxes directly to the coffers of the
The opportunities in the adoption and nationally utilised electronic payment system in any country cannot be over emphasized.
This has remained the drive for the Central Bank of Nigeria (CBN) commitment to achieve the targeted goal of the Payments System Vision 2020 (PSV2020), and enhance financial inclusion in the country.
Speaking at the flag-off campaign at the Guaranty Trust Bank, Opebi branch, Lagos, earlier this week, the Lagos State Governor, Mr. Akinwunmi Ambode, explained that the effort was implemented so as to help tax payers make direct deposits to the Government coffers seamlessly.
According to him, “The process in the payment of taxes have been simplified for the residents and citizens of Lagos State who are the direct beneficiaries of the productive utilization of taxes in the state.
“All the projects that have either been completed since the commencement of my administration or those that are underway have been done through taxes.
” Lagosians would henceforth be able to pay their taxes through GTBank branches; the mobile payment and internet banking platforms of all banks”, he said.
Commenting on the flag-off of the campaign, Mr Segun Agbaje, the Managing Director of Guaranty Trust Bank plc, said, “The e-tax payment campaign has shown the premium placed on electronic payment by the Lagos State Government and this would equally aid the financial inclusion program of the Central Bank of Nigeria.”
He noted that the elimination of middlemen in the tax payment structure will reduce fraud in tax payment and government would be able to get immediate value for all tax remittance. GTBank is willing to support the government in the collection of all the different taxes payable to the Lagos State Government.
The various forms of taxes and revenues that can be paid at all GTBank branches across the state include Pay as You Earn; Witholding Tax; Land use Charges; Direct Assessment; Development Levy & Business Premise. Others are Tax Audit; Stamp duties; Land Charges; Consent fees; Capital Gains Tax; Survey fees; Registration & Conveyancing fees.
GTBank has consistently played a leading role in Africa’s banking industry.
The bank is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world- class corporate governance standards, excellent service quality and innovation.
It is however, worthy of note that the Payments System Vision 2020 (PSV2020) initiative of the CBN has been described as a catalyst in the revolutionized payment system landscape of the country, and therefore look at the apex bank’s implementation plan and its possibility of the vision.
The payments system PSV2020 has been assessed to be an initiative coming with a lot of benefits, which one of it is to facilitated economic activities.
In view of this, the apex bank, had said that the PSV2020 is structured to provide a safe and efficient mechanisms for making and receiving payments with minimum risks to the central bank, payment service providers and end user.
Stories by Motolani Oseni
