What is e-tax Pay?
E-tax Pay is an online self-service tax payment system whereby the taxpayers are given an opportunity to pay their taxes through their banks’ online payment portal. It is an initiative put in place by FIRS in collaboration with Nigerian Interbank Settlement System (NIBSS) and approved collecting banks. This is to assist taxpayers pay their taxes with maximum ease. Taxpayers can do it themselves using the electronic service channels provided by their bankers. (These service channels will include the banks internet banking, ATM and other mobile banking platforms.)
Conditions to meet before using e-tax pay platform
· You must have registered and obtained Taxpayer Identification Number (TIN)
· You must have an account with the bank
· You must have sufficient funds in the account to cover the tax liability/transaction
Steps to take to make payment through e-tax pay platform
Having satisfied the condition of obtaining a registered TIN, an existing account and sufficient funds, then;
· Select the service (e-tax Pay) from the list of services displayed on the bank self-service channel or request for this service from the bank branch
· Provide all the required information including the taxpayer`s TIN.
· Select the tax type (e.g. Company Income Tax, Pre-operation Levy, Value Added Tax, etc.)
· Enter the amount to be debited from the account provided
· Confirm that all the information provided are correct and valid
· Submit the request.
When this process is completed the platform will notify FIRS online real time. Also FIRS has online access to the tax portal to view transactions real time to know taxpayers that have made tax payments.
Taxes that can be paid using the e-tax pay channel
You can use the e-tax pay channel to pay all taxes/levies collected by the FIRS. They include:
· Petroleum Profit Tax
· Education Tax
· Companies Income Tax
· VAT
· Personal Income Tax/PAYE (Residents of FCT and non-Residents)
· Withholding Tax
· National Information Technology Levy
· Capital Gains Tax
· Pre-operation Levy
· Late filing penalty.
· Stamp duties
Documentation required when you want to pay tax.
· Prepare the relevant tax returns
· Compute tax payable or prepare remittance schedule (CIT/PAYE/WHT/VAT)
· Fill the relevant self-assessment forms
Benefits of using e-tax Pay
· Promotes transparency and boost the taxpayer’s confidence and trust in the tax system
· Promotes voluntary compliance
· It is convenient, saves time and compliance cost; as taxpayers can do it themselves within the confine of their offices without going to the banking hall.
· E-taxpay solution streamlines the process flow in tax remittance, with all banks collecting for FIRS using their various channels.
· Banks integration to the NIBSS e-taxpay is a veritable avenue for enabling all forms of tax payments/collections particularly from the bank accounts of payers to the designated bank accounts of FIRS.
· This solution harmonizes online tax assessment with e-taxpay platform; which gives convenience of assessment and remittance.
· NIBSS collection platform has been integrated to the system(s) of FIRS for data acquisition and online real-time notification of transactions.
· The security of payment is intact as the platform leverages on the robust security infrastructure of banks.
· It makes account reconciliation easy for FIRS.
· It enhances effective budgeting and forecasting due to the availability of adequate information on details of tax revenue realized over a period of time.
Security of the e-tax Pay Platform: The e-tax pay service is safe and secure. The platform leverages on the security measures provided by the service channels of the banks. The system through NIBSS validates taxpayer’s information against FIRS records and automatically notifies FIRS.
… fast track your tax payment, use the e-tax Pay.
