The Federal Inland Revenue Service (FIRS) has announced that it generated N3.81 trillion as revenue in nine months, beating its provisional target of N3.6 trillion.

According to reports, a statement from the revenue agency which reflects the 2012 figure represented a remarkable increase in tax collection, which comprised N1.172 trillion in first quarter, N1.267 trillion in the second quarter and N1.366 trillion in the third quarter respectively.

The revenue service also said it had so far collected and remitted the sum of N23.30 billion tax revenue due to the Federal Capital territory Administration (FCTA) for the first nine months of 2012.

The amount represented “Pay-As-You-Earn” tax and Personal Income Tax collected from FCT residents.

This, it added, reflected an increase in tax collection in the period, when compared to the N21. 94 billion remitted to FCTA for the same period in 2011.

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