The Federal Inland Income Service (FIRS) stated that it generated N4.2 trillion in revenue between January and September 2021.
This was revealed by FIRS Executive Chairman, Mr Mohammad Nami, at the FIRS Special Day at the 2021 Lagos International Trade Fair (LITR), which took place on Thursday in Lagos under the theme “Connecting Businesses, Creating Value.”
According to the News Agency of Nigeria, he noted that despite the obstacles posed by Covid-19, the agency was able to reach the income target.
Nami said, “It is with great pleasure that I wish to inform all present that our revenue generation has improved tremendously despite the challenges posed by COVID-19.
“The sum of N4.2 trillion has been collected by the Federal Inland Revenue Service (FIRS) between January and September 2021.
“This feat was achieved as a result of the efficiency and effectiveness of the newly introduced in-house ex-service solution (TaxPro Max) and intelligence/data we gathered, mined and analysed in the period under review.”
The FIRS chairman further stated that e-services like as e-receipt, e-TCC, e-filling, e-stamp duty and e-tax payment, as well as the deployment of the TaxPro Max platform, have increased the FIRS’s capacity to meet the Federal Government’s targeted revenue target of N7.6 trillion for the service in 2021.
He also applauded the Federal government for revising tax legislation, such as the execution of the Finance Acts 2019 and 2020, which he claims decreased the burden on tax-paying businesses.
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