The Federal Inland Revenue Services (FIRS) has set a target to register at least 10 million additional taxpayers by December 31st 2016.
This was disclosed by Tunde Fowler, Chairman, Joint Tax Board (JTB) and Executive Chairman, Federal Inland Revenue Service (FIRS) when he led 36 state chairmen of the State Boards of Internal Revenue (SBIRs) to the Ogun State Governor’s office in Abeokuta.
He said currently, Nigeria has a cumulative 10 million registered taxpayers when you add the number of taxpayers of States Boards of Internal Revenue and the FIRS.
FIRS chairman further said that the federal government revenue agency has also added over 700,000 new corporate accounts since he assumed office.
Fowler noted that FIRS tax revenue collection is seasonal, but a combination of massive new taxpayer registration drive, tax education and engagement through the establishment of the Federal Engagement and Enlightenment Tax Teams (FEETT), audit of five key sectors: banks and the financial sector, aviation, power, telecoms and oil and gas is beginning to yield results.
He explained how the Federal Government raised over N500 billion that was allocated at the Federation Accounts Allocation Committee (FAAC) in June.
Of the sum, 70 percent came from non-oil sources while only 30 percent came from oil sources.
It was the first time in 2016 that the Federal Government shared over N500billion among the three tiers of government.
Iheanyi Nwachukwu
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