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The Federal Inland Revenue Service on Tuesday said it generated a total of N2.51tr from taxes for the federation between January and August this year.
The Executive Chairman, FIRS, Mr. Tunde Fowler, said this in Abuja at the 20th anniversary lecture and awards of the Finance Correspondents Association of Nigeria.
Out of the amount, he said oil taxes contributed about 65 per cent, while taxes from oil sources contributed the balance. He added that the agency was able to achieve the revenue collection through innovative ways of tax administration. Fowler stated that a lot of reforms had been implemented by the service to ensure voluntary compliance with the tax laws.
He said the service had also put in place strategies to increase the amount generated from non-oil taxes. The FIRS boss stated, “To close the gap in low oil tax revenue caused by the fall in the price of crude oil and the incessant destruction of oil and gas facilities.
Photo Caption: The Executive Chairman, FIRS, Mr. Tunde Fowler
