In a series of tweets on Thursday, 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 Federal Government directive clearly pointed out that every Nigerian who has a bank account in any Nigerian Bank must fill and submit the form in each of their respective Banks with a strict warning 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.”
“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,” the Federal Government 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.
The forms, according to the government, have been categorised into three:
1. Form for Entity,
2. Form for Controlling Person (Individuals having a controlling interest in a legal person, trustee, etc)
3. Form for individual
Check: Vanguard, ChannelsTV
INFORMATION:
— Government of Nigeria (@NigeriaGov) September 17, 2020
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.
0 Comments
Kindly let your voice be heard through the comment section below