The Federal Inland Revenue Service, FIRS, has disclosed that it generated N3.30 trillion in revenue for the government from taxes in 2016.

Though lower than the N3.74 trillion revenue recorded in 2015, the 2016 figure is considered a good performance, when factoring the impact of drop in oil prices and value of stocks during the period.

The Chairman of FIRS, Mr Tunde Fowler, represented by the Deputy Director, Communications and Servicom, FIRS, Mrs Nneka Ifekwuna, made this known at the closing of a three-day workshop on taxation for journalists in Lagos.

He informed that the organisation had stepped up the application of technology in revenue collection, and was also applying persuasion and enlightenment of uncooperative tax payers to boost collection.

Fowler mentioned the nationwide registration of taxpayers, for purposes of expanding the tax net as one of the current projects of the organisation, which has yielded 814,000 new taxpayers for FIRS and 3.4 million taxpayers for Internal Revenue Services in the states as at December 2016.

According to FIRS chairman, Nigeria had a national tax roll of 14 million payers as at December 2016, which is reflective of the efforts by the FIRS to increase revenue collection.

He also disclosed that compliance level of filing of tax returns by tax payers at FIRS offices nationwide had improved, adding that FIRS had embarked on initiatives, including shielding tax payers from the burden of carrying forward tax liabilities that rose as result of penalty and interest, to promote voluntary compliance.

Fowler also mentioned the support from the Office of the Accountant General of the Federation, whose collaboration with the FIRS had improved remittance of taxes, including Withholding Tax (WHT), Value Added Tax (VAT), by Ministries, Departments and Agencies (MDAs).

He reiterated the commitment of FIRS in staying true to its core values of professionalism, integrity, efficiency, ownership and collective responsibility in the discharge of its statutory mandate.

http://www.financialslot.com/2017/04/30/firs-generates-n3-30trn-revenue/

Nothing to rejoice about because we know over 70% will end up in the accounts of greedy leaders. If the country is generating that much from taxes alone, there should have been remarkable development in infrastructure and economy in general. Sometimes I wonder what we've done to deserve such horrible leadership in this country.

dominique:
Nothing to rejoice about because we know over 70% will end up in the accounts of greedy leaders. If the country is generating that much from taxes alone, there should have been remarkable development in infrastructure and economy in general. Sometimes I wonder what we've done to deserve such horrible leadership in this country.

hmmmm. My dear if we all think that way then we will never make progress as a people and a country. Try to be more positive, cos Nigeria is all we have

Yet zero impact on the common man.

And how much was given to magu, to decieve ipod yoot on newspapers about recovered loot..................

..yet there would be no money to pay salaries, pensions, out standings, debts, etc

who cares Chelsea just won the game and Arsenal is doing it for us

when will I make this front page?

A good chunk ends up in private pockets.

Er

Anusiemgood:
when will I make this front page?

u just did

What'sare we to do with this information q when Buhari will not attend FEC meeting this Wednesday because Monday is worker's day and a public holiday.

And there's no money in Nigeria

nawa

Financialslot:
hmmmm. My dear if we all think that way then we will never make progress as a people and a country. Try to be more positive, cos Nigeria is all we have

my dear we all suppose to think like that cause what he is saying is pure truth

And the government still wants foreign loan.

he is just trying to inform the nation:s treasury looters of their next looting location.

thanks for the info..they have been duly informed

And of what benefit will it be to the country while will are still in recession

A good development if our leaders could perform their duties very well the country will be out of recession. But our major problem is how to implement the policy not to create.

This money will be enough to give Nigeria stable light and also Pay our senior citizens every month... Our Leaders are tooooo WICKED . I SWEAR.

I saw one Nigerian sentor In Putrajaya, Malaysia , he was posing and taking pics in the beautiful country as if he was in heaven. When they come back to Nigeria they wont emulate other nations . Wicked Wicked dey smell.......

If one ministry alone can generate such a huge amount of money,what de hall is acting president bubu telling us about borrowing money... just to indebt the future of his GENERATION not us.this politician are equal to Satan.what a wasteful generation of politicians.

Caricature:
And there's no money in Nigeria

In which Nigeria is there no money? You best wake up and smell the steamy hot coffee 'cos this is Ibiza babe.

story story...Nigeria generate 3 trillion...d next thing u will hear is :: The money has disappear

Cool

AND WE STILL NEED TO BORROW BEFORE PAYING WORKERS?



WHO IS FOOLING WHO?

How will it benefit the average Nigerian?

Na true! If FIRS alone generated N3Trillion, then with our crude sales proceeds and other revenues, why is the Presidency trying to borrow almost N3Trillion to fund thr 2017 budget?

usamali:
If one ministry alone can generate such a huge amount of money,what de hall is acting president bubu telling us about borrowing money... just to indebt the future of his GENERATION not us.this politician are equal to Satan.what a wasteful generation of politicians.

You have zero knowledge of accounting.
There's what's called accruals.

Such incomes are not generated in a single lump sum, but overtime, then aggregated at the end of a fiscal/financial year

AND WE STILL NEED TO BORROW BEFORE PAYING WORKERS?



WHO IS FOOLING WHO?