Non-oil tax revenue increases as reforms take root at FIRS

Despite the national and global economic upheaval caused by the COVID-19 pandemic, the Federal Inland (FIRS) has continued to record significant increase in collectable tax from the non-oil sector of the .

 Executive Chairman, FIRS, Mr. Muhammad Nami, disclosed this on Tuesday in Abuja during a courtesy call on the of Finance and National Planning, Mrs. Zainab Ahmed, by the members of the FIRS Board.

 Mr. Nami attributed the increase in the non-oil sector receipt to reform measures introduced by the FIRS Board and Management as well as the renewed vigour in the workforce.

 According to Mr. Nami, non-oil tax receipts have consistently contributed 75-90 per cent of total tax in recent months. For instance, Mr. Nami disclosed that out of N490 billion collected by the in July only N52 billion was from the oil sector with the rest coming in through non-oil receipts.

 Mr. Nami commended the for her to the FIRS and its Board since their inauguration earlier in the year and solicited closer working between the and her ministry.

 Attesting to Mr. Nami’s disclosure, the commended the Management and Board of the FIRS for working to limit the disruptive of COVID-19 on government through their proactive reforms, noting that this had made it possible for the three tiers of government to receive their monthly statutory allocations from the Federation Accounts.

 According to a statement by Director, Communications and Liaison Department, FIRS,  Abdullahi Ismaila Ahmad, the observed that Value Added Tax (VAT) and Stamp Duties receipts have boosted government despite the pandemic.

 Mrs. Ahmed pledged to continue to the Management and Board of the FIRS and tasked the Service to work harder towards diversifying government revenue sources further away from dependence on oil.  

Sign Up Now

ePaper Subscription

Be the first to comment

Leave a Reply

Your email address will not be published.