Tag Archives: FIRS

The Federal Inland Revenue Services (FIRS) said it recovered about N3.63 billion by curbing Illicit Financial Flows between January 2017 and August 2018 in the country. The Executive Chairman of the FIRS, Tunde Fowler, said this on Thursday in Abuja at the Inter-Ministerial African Union High Level Panel on Illicit Financial Flows (IFFs). Mr Fowler said the FIRS had made …

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Less than a month after it commenced substitution of accounts of recalcitrant billionaire taxpayers, the Federal Inland Revenue Service (FIRS) has collected over N12.66 billion in tax revenue. The Executive Chairman, FIRS, Tunde Fowler, disclosed this at the weekend when he received the new Minister of Finance, Hajia Zainab Ahmed, during her visit to FIRS headquarters in Abuja. Fowler spoke …

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The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period. As part of efforts to achieve this target, the FIRS said it had started introducing some initiatives, according to a communiqué issued after a recent meeting of the Joint Tax Board. Part of …

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The Federal Inland Revenue Service generated a total of N1.17 trillion in the first quarter of this year from the collection of various taxes, according to a document in the possession of our correspondent. This was a significant rise over the N778.19 billion recorded in the corresponding period of 2017. According to a letter written by the Executive Chairman of …

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Over N4.03 trillion was collected as revenue in 2017 as the Federal Inland Revenue Service (FIRS) recorded 82.38 percent success in its projected income of N4.89 trillion for the year. However, the revenue is N720 billion more than the 2016 total collection figure of N3.3 trillion. Details of sectorial contributions showed that taxes from non-oil sources accounted for 63 per …

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…Claims revenue-generating agencies under-remitted N1.7trn in 4yrs  …NNPC operated N3.1trn deficit Shocking revelations emerged at the Senate, yesterday, that almost all  various federal revenue-generating agencies have short-changed the Federal Government to the tune of N1.7 trillion, through under-remittance of revenues generated between 2012 and 2016. It was also discovered that the Nigerian National Petroleum Corporation ( NNPC), ran at a …

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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 …

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The Joint Tax Board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing data of high net worth individuals to profile income earners and taxpayers and get them to pay appropriate taxes. Twelve states have signed the Memorandum of Understanding (MoU) under the Voluntary Assets and Income Declaration Scheme (VAIDS). The JTB also announced yesterday that it had …

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The Federal Inland Revenue Service (FIRS) has disclosed that it realised N27 billion from the penalty wavers for tax defaulters’ exercise it concluded in December 2016. The chairman of the service, Babatunde Fowler, disclosed this at the opening ceremony of the FIRS/journalism.com media training series on accurate reporting of taxation, holding in Lagos. It is part of the efforts of …

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The Federal Inland Revenue Service says it will soon introduce electronic Tax Clearance Certificate (TCC) system to  help reduce  fraudulent certificates. Mr Kola Okunola, Director ICT, FIRS, said this in a presentation at the ongoing training by Journalism.com Ltd., in collaboration with FIRS on Thursday in Abuja. He said that the implementation of the e-TCC verification system had reached an …

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