Income Tax: FG Orders Account Holders To Fill Self-Certification Forms

The Federal Government has directed all account holders in the country to obtain and fill self-certification forms in line with the Income Tax Regulations 2019.

The directive contained in a series of tweets on Thursday stated that each account holder must submit the filled forms in their respective financial institutions.

“This is to notify the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, complete, and submit Self – Certification Forms to their respective Financial Institutions.

“Persons holding accounts in different financial institutions is required to complete & submit the form to each one of the institutions,” it stressed

The government, however, stated that the exercise is part of due diligence exercise mandated by the banks and other financial institutions in line with the Income Tax Regulations 2019.

According to the directive, the forms have been categorised into three: Form for Entity, for Controlling Person (Individuals having a controlling interest in a legal person, trustee, etc); and form for individual

The directive by the government warned that “failure to comply with the requirement to administer or execute this form attracts sanctions which may include monetary penalty or inability to operate the account.”

 

 

– Channelstv

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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