Recent Announcements
Stay informed about the latest developments, regulatory changes, and important notices from the VAT Unit. This page provides timely updates on tax compliance requirements, filing deadlines, policy changes, and other matters relevant to university departments and staff members.
Quarterly Tax Filing Reminder - Q1 2024
All departments are reminded to submit their quarterly VAT documentation for the first quarter of 2024 by March 31, 2024. Please ensure all invoices, receipts, and supporting documents are properly categorized and submitted to the VAT Unit office. Late submissions may result in compliance issues and potential penalties.
For assistance with documentation requirements or questions about filing procedures, please contact the VAT Unit at vat@unicross.edu.ng or visit our office during business hours.
Updated Compliance Guidelines for Tax-Exempt Purchases
The VAT Unit has published updated guidelines for tax-exempt purchases applicable to educational institutions. These guidelines reflect recent changes in Federal Inland Revenue Service (FIRS) regulations and provide clearer procedures for identifying and documenting tax-exempt transactions.
All procurement officers and department heads are advised to review the new documentation requirements before processing orders. The updated guidelines are available upon request from the VAT Unit office. Training sessions will be scheduled for staff members who require additional clarification on the new procedures.
2023 Annual Tax Compliance Report Completed
The 2023 annual tax compliance report has been successfully completed and submitted to the relevant authorities. The report confirms that the University of Cross River State maintains full compliance status with all tax obligations throughout the 2023 fiscal year.
The comprehensive report includes detailed documentation of all tax transactions, compliance activities, and regulatory adherence. The university's commitment to fiscal responsibility and transparent financial management is reflected in the positive compliance status maintained throughout the year.
Tax Compliance Training Workshop Scheduled
The VAT Unit will conduct a comprehensive training workshop on tax compliance procedures for university staff members. The workshop will cover topics including documentation requirements, exemption eligibility, filing procedures, and best practices for maintaining compliance.
Department heads are encouraged to nominate staff members who regularly handle procurement or financial transactions to attend the workshop. Registration details and workshop schedule will be communicated through departmental channels. For more information, please contact the VAT Unit office.
New FIRS Circular on Educational Institution Exemptions
The Federal Inland Revenue Service has issued a new circular clarifying tax exemption provisions for educational institutions. The circular provides additional guidance on qualifying transactions and documentation requirements for exemption claims.
The VAT Unit has reviewed the circular and updated internal procedures to ensure continued compliance. All relevant departments have been notified of the changes, and the VAT Unit is available to provide guidance on how these changes may affect specific transactions or procurement activities.
Enhanced Documentation System Implementation
The VAT Unit has implemented an enhanced documentation system to improve efficiency in processing tax-related documentation and maintaining compliance records. The new system provides better tracking capabilities and streamlines the submission process for university departments.
Departmental staff members will receive training on the new system, and user guides are available from the VAT Unit office. The enhanced system is designed to reduce processing time while maintaining the highest standards of accuracy and compliance.
Stay Informed
For the most current information and urgent announcements, please check this page regularly or contact the VAT Unit directly. Important updates may also be communicated through official university channels and departmental notices.
If you have questions about any announcement or require additional information, please do not hesitate to contact our office. We are committed to providing timely and accurate information to support compliance efforts across the university.