- The Federal Inland Revenue Service (FIRS) says it generated N1.97 trillion in revenue in the first half of this year.
- Its Acting Executive Chairman, Mr Sunday Ogungbesan, made the disclosure in Lagos at the weekend.
- He said that the figure represented 98 per cent of the targeted revenue of N2.28 trillion between January and June 2015.
- Ogungbesan said the Federal Government gave FIRS a revenue target of N4.57 trillion for the whole of 2015.
- He said that Nigeria had the potential to generate more tax revenue if there was a better tax administration system in the country.
- The FIRS boss said that his agency was just one of the 37 tax authorities in the country.
- He said the FIRS were administering tax at the federal level, while each state administered its own.
- Ogungbesan called for more collaboration among all the tax authorities in the country.
- He said that while the FIRS had 6,900 workers across the country, tax authorities in the states could also strengthen their workforce instead of depending on consultants.
Tax Collectors – FIRS Generates N1.97Trln In H1
Popular
Airtel loses over 100,000 subscribers in one month, as Glo chases MTN’s market share
Airtel lost over 100,000 subscribers in Nigeria between December 2019 and January 2020. While Airtel Nigeria's subscribers declined,
Naira under pressure as Nigeria records poor export earnings
The naira is expected to be under intense pressure from the dollar starting next week, no thanks to Nigeria's poor export earnings due the COVID-19 pandemic.
CBN temporarily suspends settlement of failed Visa and Verve card transactions
The Central Bank of Nigeria (CBN) has directed Interswitch to suspend refund activities for failed Visa and Verve card transactions, pending the duration of the lockdown that was recently declared by President Muhammadu Buhari.