Fidelity bank banner Bayelsa State banner
FIRS generates N3.2 trillion in 10 months

By Abiemwense Moru on 27/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 634

•FIRS Executive Chairman Tunde Fowler
•FIRS Executive Chairman Tunde Fowler

The Federal Inland Revenue Service (FIRS) on Monday in Abuja said it generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017.

Mr Tunde Fowler, the Executive Chairman of FIRS, disclosed this at interactive session for review of 2018–2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), organised by House of Representatives Committee on Finance and Appropriations.

The FIRS boss who briefed the joint committees on key strategies for achieving the objectives of the 2018 budget, said FIRS justification for 2018-2020 Revenue frameworks was based on Federal Government Economic Recovery and Growth Plan (ERGP).

According to him, FIRS deployed technology to ramp up more revenue for the nation, especially as its tax assessment between 2013 and 2015 revealed N1 trillion after its tax audit exercise.

The chief tax officer of the country said the exercise had already yielded over N3.7 billion in collection of taxes into Federal Government coffers.

This, he said, was a pointer of its ability to meet FIRS assumptions for the 2018 – 2020 M-TEF expectations.

These successes, he noted, were as a result of various measures adopted by the service to ensure increased collections of Federal Government dues in corporate and individual taxes.

He added that the measure would continue to be relevant in achieving better collections in 2018.

While listing the measures that brought about the successes, Fowler said the new modalities structured for optimal access of accruable dues from Voluntary Assets and Income Declaration Scheme had yielded over 54 million dollars (N16.73 billion) and N207.41 billion), totalling about N16.40 billion at the federal level only.

“We have stepped up enforcement activities against task defaulters on different fronts; these include placing non-compliance stickers on business premises of tax payers with outstanding amounts but made no move to liquidate it.

“We also adopted substitution as enforcement tool by putting a lien on the bank account of errand tax payers.

“This in my view will serve as deterrent to defaulters and consequently increase tax collection.

“FIRS has so far collected over N6 billion and 4.2 million dollars (over N1.4 billion), totalling over N7.7 billion.

“This drive is continuous and will be unrelenting going forward.” (NAN)

Source News Express

Posted 27/11/2017 9:24:33 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Infamous drug lord 'Chapo' Guzman Nabbed

2 bomb factories uncovered in Borno

Bayelsa Governor probes election violence

3 bombers confirmed killed in Maiduguri suicide attacks,...

RIGHTSView: THIS OBSESSION OF THE ELITE WITH PETROL...

Varsity Don develops 2 anti-malarial drugs

Today’s Weather: Expect moderate dust haze, sunny and...

We don’t have confidence in INEC, says PDP...

Angry Edo pensioners barricade road over non-payment of...

EFCC may declare ex-commissioner wanted over N6bn

Nigerians seeking education in Ghana, disheartening -- Envoy...

Several reported dead as car plows into crowd...

 

Latest News Ex-militants picket Governor’s office over unpaid entitlements I’ll win 2019 presidential polls — Dankwambo •Vows to be a warrior in the fight against poverty, injustices Flood kills at least 45 in Katsina ‘I Don’t Lose Battles’: Fayose reacts to Ekiti election result, attacks Buhari Sex for Marks Scandal: Victim nowhere to be found – Panel Fidelity Bank donates N50m to LSSTF Four-storey building collapses in Anambra 2019: We'll resist rigging with absolute force – PDP Adamawa APC lawmakers defect to ADC Buhari orders immediate repatriation of Nigerians stranded in Russia Two jobless men get N1m bail over stolen phones Ekiti polls: PDP refutes allegation of N5b donation to Fayose

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (361,485 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (358,088 views) Shameless Genevieve Nnaji exposes breasts in public (286,414 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (235,037 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (214,203 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,404 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,174 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,155 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,170 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (152,483 views) Lagos plane crash: Journalist releases victims’ names (147,409 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (138,676 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,344) Business Verdict (45) Columnists (886) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (614) Global Business Monitor (284) International (2,130) Interview (157) Live Commentary (28) Love Matters (127) News (37,179) Opinion (1,024) Pidgin (10) Politics (5,581) Religion (783) Sports (1,611) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

FRANCE vs CROATIA 4-2 Highlights & Goals 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement