May 7, 2019

DMS and website provider Click Dealer has been officially included in HMRC’s ‘Software in Development’ list for submitting VAT returns digitally. Through its award winning ClickDMS software, Click Dealer is now ideally suited to help dealers comply with the new ‘Making Tax Digital’ regulations. For dealers over the £85,000 VAT threshold, all VAT periods that began on or after April 1, 2019, are required to be filed via a HMRC recognized platform, either by the dealers directly, or through their appointed accountants. Click Dealer is now warning that time is of the essence for those dealers that have not yet decided how they are going to comply with HMRC’s new regulations. The main difference ‘Making Tax Digital for VAT’ brings for UK dealers is that the software must be capable of keeping and maintaining the records specified in the regulations. This software must also facilitate preparation of their VAT Returns using the information maintained in digital records and communicate with HMRC digitally via its Application Programming Interface (API) platform. From April 1, 2019, dealers who sign up to ‘Making Tax Digital for VAT’ (or agents signing up on behalf of dealer clients) need software that allows them to submit VAT Returns and keep records of sales and purchases. In recent times, it has become commonplace for dealers’ records and accounts to be stored digitally, utilizing software programmes on computers, tablets, Smartphone applications, or even maintaining them through these devices and storing them by using a cloud-based application. As ClickDMS is already setup and ready to assist dealers with meeting the ‘Making Tax Digital for VAT’ regulations, the independent dealer performance partner can help dealers to comply with the new VAT notice straightaway. If dealer’s digital records are up to date, ClickDMS will be able to collate and prepare their returns. Via one simple push of a button, ClickDMS displays the return and asks dealers to declare that it is correct, before confirming that they want to submit it to HMRC. Dealers will then receive confirmation that they have submitted their return successfully. Click Dealer director and head of customer care Pippa Rawlinson, pictured, said: ‘We’ve been working hard in the background to ensure that ClickDMS is setup to make compliance with HMRC’s ‘Making Tax Digital for VAT’ regulations as easy as possible for our dealers. ‘The process we now have in place ensures a seamless journey for dealers, who can submit their VAT digitally by the click of a button within ClickDMS. ‘Our dealers can rest assured that we will help them every step of the way, we don’t do fear mongering and will work with them to ensure that they remain compliant!’   Source: Magazine 

The Rivers State Internal Revenue Service said on Monday that it would soon begin to collect taxes from roadside traders and others from the informal sector in the state. Chairman of RIRS, Adoage Norteh, who disclosed this to newsmen in Port Harcourt, explained that the agency was planning to meet with various trade groups, including transporters and petty traders, to sensitise them on the decision. Norteh pointed out that the agency would collaborate with the Ministry of Transport, Ministry of Environment, State Waste Management Agency and other relevant agencies, in order to actualise the new tax plan. He insisted that collecting tax from roadside traders and others in the informal sector would not amount to double taxation and added that no trader would be harassed as hoodlums would not be allowed to be part of those on tax drive. He said, “The idea of this meeting this morning is to unveil the new tax plan that we intend to carry out. It is not like we are not continuing with what we are doing, but we are going to face the informal sector. “The informal sector is where most of these people that do not have organised businesses belong. The challenge we have had in our system is that not a lot of persons understand what tax is. “People think that tax is for some people, especially those who are working. For those who work in the media, your tax is deducted when your salary is being paid. But for the person who is in the informal sector and makes more money than those working; he thinks he should not pay tax. “The other part is that there is a lot of confusion over what is a tax and a levy. If you have to pay something for putting your store somewhere, that is not a tax; that is a levy. If you like, call it dues for putting your store there. Describing multiple taxations as a thing of the past in Rivers, Norteh noted that the state would never engage in multiple taxations. “There is a lot of noise about multiple taxations. In the Rivers State Revenue Service, we don’t engage in multiple taxations. “Multiple taxations have become a thing of the past since we came on board. We insist that people should not be harassed provided they do the right thing,” the RIRS chairman added.   Source: Investor

The Federal Government on Monday said the new Tax Identification Number Registration system would boost the total number of taxpayers in the country to about 45 million. Mr Oseni Elamah, the Executive Secretary, Joint Tax Board, disclosed this during the presentation of the new TIN registration system report to the Executive Chairman of the Federal Inland Revenue Service, who also doubles as JTB Chairman, Mr Tunde Fowler. Elamah attributed the improvement to the collaborative efforts between the JTB and the State Internal Revenue Services. He said the integration of the databases across government organisations in the country would raise the number of individual and corporate taxpayers to around 45 million. The total number of taxpayers in the country was put at 19 million as at the end of December 2018. He further revealed that the JTB new TIN Registration System, which is an integration of TIN numbers of various organisations would help enhance the organisation. He said, “The registration and recording of taxpayer information is one of the fundamental functions of tax administration and to a great extent, this will drive how other core administrative functions operate. “The timely and accurate collection and recording of basic identifying information of the taxpayer will permit the tax administrator to understand its taxpayer base, the staff itself accordingly and to effectively plan other core administration functions. “The existence of an accurate taxpayer database will inevitably lead to effective compliance programmes observation.” According to the board, the new TIN system leveraged on existing database of taxpayers from organisations such as banks through the Bank Verification Number, National Identity Card Management Commission, Corporate Affairs Commission and others. Speaking on the new TIN system, Tunde Fowler, said the new system would ease the process of payment for taxpayers. He said, “When the integration of the new TIN Registration System is launched, it will afford prospective taxpayers the opportunity to register for tax from the comfort of their homes and print their registration certificate. “We now have a consolidated database for all taxpayers in Nigeria. If a taxpayer goes to any other country or visit another state in Nigeria and they want to check your tax status, what this means is that they can check your tax status by a touch of a button. “We want to assure all taxpayers that we are ready to serve them more with technology, convenience and accountability.”   Source: Investor