FIRS Rakes in N1, 974.17trn

Federal Inland Revenue Services (FIRS), Thursday said it has collected N1,974.17 trillion as tax between January and June this year. The amount, the service said, exceeded its first half target of N1,701.75 trillion. Coordinating Director, Tax Operations Group of the FIRS, Mr. Samuel  gungbesan, made the disclosure in Ilorin at the opening of Regional Enlarged Management/Town Hall Meeting of the FIRS. He however said that despite the increase in tax generation, the FIRS was not happy with its performance in the non-oil sector. Ogungbesan explained that the FIRS was able to exceed its target during the first half of the year because its collection on oil revenue was far more than what it estimated. He said while the agency targeted N845.50 billion, it collected N1.310.36 trillion, which represents 54.52 percent increase on the target. Ogungbesan said the agency did not meet its target on non-oil revenue by 13.05 per cent as it collected

N663.81billion as against N845.50 billion targeted.
His words: “The non-oil revenue collection which FIRS depends upon to finance its activities is seriously
lagging behind, with a negative variance of 22 per cent. This therefore called for concerted effort by all of
us if we are to improve revenue collection from non-oil sources to pursue with vigour the non oil revenue
The Executive Chairman of the FIRS, Mrs. Ifueko Okauru, who was represented by the Coordinating Director, Cooperate Development Group of the agency, Osy Chuke, said there was need to improve tax payer education to keep them abreast of current policies, processes and procedures of the tax system and build their understanding, trust and cooperation with the system.
She expressed the hope that education would encourage voluntary compliance of the taxpayer and  promote positive tax culture in the country.

Author: nmmin

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