By Hassan Haruna Ginsau
The National Conference yesterday adopted the recommendation by its committee on public finance and revenue which states that departments and agencies that collect revenue must remit gross revenues collected in full to the federation account.
The recommendation which is in line with section 162, subsection 3 of the 1999 constitution also requires them to resort to the normal budget process of attaining budget approval from the national assembly to fund their’ operations.
The conference went further to agree that sections of the acts of these agencies that allow them to retain revenue and surplus to fund their operations should be amended.
An amendment stating that the revenue generating departments and agencies should be allowed to withhold 20% of their gross revenue, deduct overhead costs, and remit not less than 50% of gross revenue was rejected by delegates.
The committee, chaired by former Kebbi state Governor Adamu Aleiro had its recommendation that licensed professionals be engaged as tax administrators to ensure proper assessment and accountability adopted.
In regards to Solid minerals development, the conference adopted that; the Federal Government begins immediate use of solid mineral development funds for the purpose it was designated; solid minerals development funds should increase from 18% to 50%; and that solid minerals and mines be included on the concurrent list.
Among the recommendations rejected were; the establishment of tax courts to eliminate slow court processes and revenue; the development of a mineral development agency; the solid minerals development fund be operated as a venture capital; the solid minerals development fund be deducted from total revenue and not from the federation account.
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