To avoid sanctions or penalty, the Kogi State Government has urged company owners in the state to follow the law’s rules on business registration with the Ministry of Commerce and Industry.
The state Commissioner for Commerce and Industry, Hon. Gabriel Olofu, told a joint press conference held by the ministry and the Kogi State Internal Revenue Service (KGIRS) in Lokoja on Tuesday that point of sale terminal (PoS) operators, petty traders, miners, contractors handling state government jobs, and others have until October 14 this year to register or face sanctions. Also Read: Kogi Prison Attack: Gov. Bello visits the Kabba Correctional Center and reads the Riot Act to the assailants.
He advised business owners to pay their taxes straight into a KGIRS account and acquire a receipt or teller, following which they should go to the government to get their Business Premises certificate.
The Commissioner said that direct payment to the Bank is in line with the Governor Yahaya Bello administration’s cashless policy, adding that after the one-month grace period expires, the state tax force would tour all business locations in the state to execute the legislation.
He said the Ministry of Commerce and KGIRS have area tax officers in various LGAs and other critical positions to help tax payers meet their obligations, adding that the list of businesses, according to the law’s stipulations, encompasses a wide variety of businesses.
“The Kogi State Government of Nigeria Registration of Business Premises Law, 2007; Section 2, Sub Section 4 of the registration of business premises law and other matters connected therewith 2007 interprets business premises to mean: the premises on which the company, firm, or individual carried on or carries on any business, whether fenced or not,” according to the law.
“Business” is defined in Section 2, Subsection 2 as any trade, industry, profession, or occupation carried out for profit in Kogi State. Section 3, subsection 1 of the aforementioned law further states that every corporation, firm, or individual carrying on any business in the State must register their business premises in the manner stipulated by this law.
“At the end of one month, the state tax force would go around all business facilities in the state on a revenue drive to enforce the law,” he stated.