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FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report - Politics - Nairaland

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FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Anambralstson: 8:00pm On Dec 21, 2019
The Federal Inland Revenue Service failed to collect taxes worth about N41 billion in Lagos, a government audit report has said.

This is even as it has not been able to meet up with its target over the past four consecutive years, the report added.

The taxes, which are yet to be collected from companies, government agencies, and local government councils, are valued at N40.8 billion.
In the report for the year ended December 2017, the Auditor-General of the Federation (AuGF), Anthony Ayine, said the observation was made during the review of records filed by Companies at Federal Inland Revenue Service Micro and Small Tax Offices (MSTO), Medium Tax Offices (MTO), Large Tax Offices (LTO) and Government Business Tax Offices (GBTO) within the South–west Zone comprising of Lagos, Ogun, Osun, and Oyo states.

He said the uncollected taxes which range from Company Income Tax, Value Added Tax, withholding tax, education tax, to Capital Gains Tax may deny the federal government its legitimate revenue.

“This may negatively affect the implementation of their programs and projects for the benefits of the citizens,” he said.
Breakdown

According to the report, 545 companies had not remitted their Company Income Tax (CIT) to the FIRS valued at a total of N26 billion.
It also said Companies, Federal and State MDAs, Local Government Councils and State Government within the South–west Zone were yet to remit about N8 billion being their Value Added Tax.


Withholding tax from companies, government agencies and local government councils valued at about N5 billion were also yet to be remitted to the FIRS.

About 318 companies were said not to have remitted their Education tax which is 2 per cent on profits of Companies valued at N697 million.
The report also revealed that two companies are yet to remit N99 million, being their Capital Gain Tax of 10 per cent from the disposal of these companies’ assets.

All these unreconciled taxes were said to have been communicated to the FIRS chairman, the report noted.

“This issue was communicated to the Chairman, Federal Inland Revenue Service in my letter reference No. OAuGF/RESAD/FIRS/2017/VOL.II/5 of 1st August 2018 and no response has been received as at the time of forwarding this report.”
The report also said it observed that out of 28,237 duly registered Companies, 11,221 failed to submit their annual returns to various tax offices.

This, it said, is contrary to the provision of Company Income Tax Act which requires a company to render an account of its operations within six months of its accounting year-end.
This number of companies who failed to render its returns represents 39 per cent of duly registered companies with the FIRS.
Leakages

Since 2015, the FIRS under its former chairman, Tunde Fowler, has not been able to meet collection targets, a different trend from the preceding years.

In 2015, FIRS set N4.7 trillion target but was only able to make N3.7 trillion in the actual collection.
In 2016, 2017 and 2018, the target collections were N4.2 trillion, N4.8 trillion and N6.7 trillion but the actual collections were N3.3 trillion, N4 trillion and N5.3 trillion, respectively.

PREMIUM TIMES recently reported how President Muhammadu Buhari queried Mr Fowler, over worsening tax collection since 2015, a prelude to him relieving him of his job weeks later.

In his response to the presidency, Mr Fowler had said FIRS under him performed better regarding specific non-oil tax types, such as VAT and CIT.
He explained that the general lower collection since 2015 is as a result of the falling prices in the oil market.

https://www.premiumtimesng.com/news/more-news/369287-firs-failed-to-collect-n41-billion-taxes-from-firms-audit-report.html

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Nobody: 8:12pm On Dec 21, 2019
This Ayine guy is one scum northern cabal attack dog..you will lose your teeth soon

What about the tax the north are not remitting? The Buhari kastina cabal are swallowing it
What about the taxes the Southeast is not remitting?
Must the Southwest labor had yet you take it and we don’t get tangible government best policies?


The ones(taxes) that was generated sef.. what has the northern government led by puppet buhari , real president Daura, Commander Abba Kyari etc being able to do with it?

Prior to 2015 Oil according to Brent index is 100 but now its within 40-60 therefore low tax output from oil companies where Nigeria derives her revenues but Fowler came in and shamed lots doomsayers and cabin biscuits analysts by raising Nigeria revenue from non oil sectors( no be FG they shout DIVERSIFICATION??)..yet the Cabals are angry because Fowler entrenched the West Point

If Lagos is paying most of the tax in Nigeria then Lagos is entitled to the best government policies to its favor. This to my view will ginger other states to be serious in growing their internal revenue. This was Tinubu dream, the first pioneer of states being self made

28 Likes 3 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Anambralstson: 8:13pm On Dec 21, 2019
State MDAs, Local Government Councils and State Government within the South–west Zone were yet to remit about N8 billion being their Value Added Tax.
The guy na real criminal, he most go to jail

15 Likes 3 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Ndibunna: 8:56pm On Dec 21, 2019
Companies at Federal Inland Revenue Service Micro and Small Tax Offices (MSTO), Medium Tax Offices (MTO), Large Tax Offices (LTO) and Government Business Tax Offices (GBTO) within the South–west Zone comprising of Lagos, Ogun, Osun, and Oyo states.
He said the uncollected taxes which range from Company Income Tax, Value Added Tax, withholding tax, education tax, to Capital Gains Tax may deny the federal government its legitimate revenue.
“This may negatively affect the implementation of their programs and projects for the benefits of the citizens,” he said.




Imagine.


Why taxing other regions heavily he left South west region and they will still come here and be shouting our GDP is high


Our budget is high.


Just Imagine..... Nepotism

31 Likes 4 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Racoon(m): 8:59pm On Dec 21, 2019
shocked cheesy So it's only SW govt MDAs, local firms that are evading taxes? And the persecution continues.Perhaps Bab Fowler should get ready for the mother of all investigation by the EFCC,ICPC.Guess these are still parts of the reasons he was denied continuation as FIRS chair.

6 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Racoon(m): 9:03pm On Dec 21, 2019
".Since 2015, the FIRS under its former chairman, Tunde Fowler, has not been able to meet collection targets, a different trend from the preceding years.

In 2015, FIRS set N4.7 trillion target but was only able to make N3.7 trillion in the actual collection.
In 2016, 2017 and 2018, the target collections were N4.2 trillion, N4.8 trillion and N6.7 trillion but the actual collections were N3.3 trillion, N4 trillion and N5.3 trillion, respectively.
Nepotism & putrifying corruption in FIRS.I guess this is the same government that has continued to lie of phantom revenue generation from government agencies including FIRS.Lies has a beginning & end.

11 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by hisexcellency34: 9:05pm On Dec 21, 2019
Fowler should be in jail by now

21 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Anambralstson: 9:10pm On Dec 21, 2019
[s]
WiLdFLame:
This Ayine guy is one scum northern cabal attack dog..you will lose your teeth soon

What about the tax the north are not remitting? The Buhari kastina cabal are swallowing it
What about the taxes the Southeast is not remitting?
Must the Southwest labor had yet you take it and we don’t get tangible government best policies?


The ones(taxes) that was generated sef.. what has the northern government led by puppet buhari , real president Daura, Commander Abba Kyari etc being able to do with it?

Prior to 2015 Oil according to Brent index is 100 but now its within 40-60 therefore low tax output from oil companies where Nigeria derives her revenues but Fowler came in and shamed lots doomsayers and cabin biscuits analysts by raising Nigeria revenue from non oil sectors( no be FG they shout DIVERSIFICATION??)..yet the Cabals are angry because Fowler entrenched the West Point

If Lagos is paying most of the tax in Nigeria then Lagos is entitled to the best government policies to its favor. This to my view will ginger other states to be serious in growing their internal revenue. This was Tinubu dream, the first pioneer of states being self made


[/s]
The tax in Lagos are generated by Nigerians and others not only Yorubas

53 Likes 6 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by celeiyke: 9:19pm On Dec 21, 2019

2 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by codedguy1(m): 9:26pm On Dec 21, 2019
This is gonna be interesting!

WiLdFLame:


Was it generated on your fathers land or south East? Or it’s your gala selling brethren’s that generate it ?

You’re obviously obsessed with the Omoluabis


Now you know how the ND people feel about being the ones generating over 80% of the revenue in the country. GENERATED FROM THEIR OWN LANDS.

For useless advantages of being appointed FIRS chairman and etc the southwest kinda sold out to allow this dullard rule us again. Now the advantage has been turned on its head the tiger has began to target its supporters.

If Tinubu had aligned with the ss, se we probably wouldn't be here today.

We would have had a better chance of achieving restructuring for this country without this tyrant in power.

Selfishness will never get us anywhere. The sw would thrive better without the present leadership.

Its obvious this report regardless of whether its true or not is a witch hunt. Na only sw no dey remit tax for this country? Tell me another story abeg.

67 Likes 6 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by 1kworks: 9:35pm On Dec 21, 2019
Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by emeijeh(m): 9:35pm On Dec 21, 2019
3 words
Fowler Failed d Federation

7 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by chibu4u2(m): 9:35pm On Dec 21, 2019
grin

Story story!!!

Failed to collect or embezzled..........in a state like lagos that strives on all manner of tax, u cant fail to collect tax to the tune of the said amount.

16 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Homers123(m): 9:35pm On Dec 21, 2019
How many big men/ firms/ companies dey pay tax? No be the civil servants/ commoners dey pay tax for Naija?

4 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Conceptman: 9:37pm On Dec 21, 2019
Another figures unaccounted for, despite all the taxes collected yet no reflection of it on our dear country. I just hope some ogas never sit on top those money so cheesy

4 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by sammhi(m): 9:37pm On Dec 21, 2019
Thrash report
The trillions they collected what did you do with it ?
You failed with trillions but points out 40bn ..what percentage is that ? Do you really thinK he could have collected every penny owed !
Yeye.. people...
Fowler was removed because he is from.the south . Shikena!

11 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by tommykiwi(m): 9:38pm On Dec 21, 2019
I know Omo bullion Van is among those owning tax.

11 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Humphrizy(m): 9:38pm On Dec 21, 2019
Chaiiiii....One day... Dx guys will tell us to pay for the air that we breathe in.

But e no go work for them
Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by uchennaq(m): 9:39pm On Dec 21, 2019
They should check if the collected bribe instead of govt taxes. They can do it

6 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by uchennaq(m): 9:41pm On Dec 21, 2019
WiLdFLame:


Was it generated on your fathers land or south East? Or it’s your gala selling brethren’s that generate it ?

You’re obviously obsessed with the Omoluabis


Some people need to grow up. No sensible and matured person will say all these nonsense.

34 Likes 3 Shares

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Obijulius: 9:41pm On Dec 21, 2019
Fowler and his cronies must return all our yams!

This guy and anyone supporting him must be hanged!

I trust Buhari to deal with him!

No time for nonsense!

12 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by TooMuchStuff: 9:42pm On Dec 21, 2019
Another plot by the Cabal to stylishly exempt core north from paying real taxes but audio taxes.

4 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by xtivin2: 9:42pm On Dec 21, 2019
we all know these are scripted indictment tactics to justify political decisions.

2 Likes

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Criticaltemp: 9:42pm On Dec 21, 2019
Na to stand for riad the intimidate users them sabi

2 Likes 1 Share

Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by Nobody: 9:43pm On Dec 21, 2019
WiLdFLame:


Was it generated on your fathers land or south East? Or it’s your gala selling brethren’s that generate it ?

You’re obviously obsessed with the Omoluabis


Thank yo
Re: FIRS Failed To Collect N41 Billion Taxes From Firms – Audit Report by codedguy1(m): 9:44pm On Dec 21, 2019
TY danjuma knew what he was saying about the sw grin grin

15 Likes

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