February 26, 2020

Taxaide introduces tools to aid tax compliance

Taxaide introduces tools to aid tax compliance

By Yinka Kolawole

A tax management and technology firm, Taxaide, has unveiled technological tools aimed at enhancing a more effective tax administration for Nigerians and tax authorities, ahead of the March 30 deadline for filing Personal Income Tax (PIT) returns,

Bidemi Olumide, CEO, Taxaide, at a media parley yesterday, said the firm, through its technology development subsidiary, Taxtech, produced PITApp to serve as an aggregator of all PIT obligations.

He stated: “The 2020 PIT filing season is upon Nigerians and the law requires every taxable person to file their tax returns with the designated revenue agency of the state where they are resident in Nigeria,” he said. “The deadline for doing this in the leap year 2020 is March 30 and, as part of our work in building a more effective tax management system, we have built the PITApp to simplify the PIT returns filing and remittance process for Nigeria tax residents.”

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According to Olumide, there are an estimated 900 revenue collecting agencies across Federal, States and Local governments in the country jostling for the attention of Nigerian taxpayers.

“This is a huge distraction from the core economic activities that should generate the tax in the first place. Every taxable person or organisation should focus on its core commercial mandate while leaving the operational aspects of their tax compliance to accredited tax managers. This is the essence of Taxaide, to take care of those distractions.”

Chief Technology Officer of Taxtech, Onatoye Onakomaiya, said: “PITApp is a web-based and mobile application service designed to make life easier for Nigerian taxpayers; especially in an increasingly technologically-driven world.

It saves you time and money by reducing resources that would have been spent on undertaking these tasks manually.”

Vanguard Nigeria News