12 Powers of the Service

(1) The Service shall have power to:

(a) administer any Law on Taxation or other forms of Revenue in respect of which the State House of Assembly or the National Assembly may confer power on it; and

(b) control, administer, impose, collect and account for the different Taxes, Levies, Fees, Charges, Rates and other forms of Revenue specified in the First and Second Schedules to this Law.

(2) The Service may:

(a) through the Office of the Governor, accept any Gift on such Terms and Conditions as may be specified by the Person or Organization making the Gift: Provided that the Service shall not accept any Gift if the conditions attached by the Person or Organization offering the Gift are inconsistent with any Law in force or with the functions of the Service;

(b) with the approval of the State House of Assembly, borrow by way of Loan, Overdraft or otherwise from legitimate source, such sums with the exception of Foreign Currency as it may require for the performance of its functions and meeting its obligations under this Law;

(c) subject to the provisions of this Law and the conditions of any Trust created in respect of any Property, invest all or any of its funds in any Security or any other Fund as may, from time to time, be approved by the State Executive Council;

(d) with the approval of the Attorney-General, compound any Offence under this Law by accepting a sum of Money not exceeding the maximum Fine specified for the Offence: Provided that the Service shall issue a Treasury Receipt for any Money received thereof;

(e) subject to prevailing conditions as may be determined by the Governing Board and with the prior written approval of the Governor, employ the services of qualified Consultants, such as Accountants, Legal Practitioners and Technologists to provide information that will enable the Service execute its functions under this Law. The Professional Fees payable shall be determined by the Governing Board subject to the approval of the Governor;

(f) distrain upon the Good, Chattels or other Properties, movable or immovable of the Person liable to pay any outstanding Tax to Government subject to an Order of the High Court: Provided that the authority to Distrain shall be in such Form as contained in the Sixth Schedule to this Law; and

(g) subject to a written authority in a Form prescribed in the Seventh Schedule to this Law, access Lands and Buildings or Books and Documents stored in hard or soft copies for the purpose of carrying out its functions under this Law.