FIRS To Collect 80% Of Revenue Before The Year Ends, Targets N4.9trn In 2016

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The Federal Inland Revenue Service (FIRS) says it is targeting a revenue of N4.9 trillion in 2016.

Chairman of FIRS, Mr Tunde Fowler, made this known on Monday at the opening of the 134th Joint Tax Board meeting in Kano.

The meeting is themed: “Imperatives of Transitioning from Oil Revenue Dependency to Non-oil Revenue Sufficient.”

The Chairman assured that 80 per cent of the targeted amount would be collected before the end of the year.

He reiterates FIRS mandate to ensure increase in the non-oil revenue to ensure stability in the entire system, as the drop in oil price indicates drop in revenue from the sector.

He said that the meeting would address challenges militating against effective tax administration in the country.

He recalled that the Inspector-General of Police had dismantled all road blocks across the country as part of efforts to check indiscriminate and multiple tax payment.

Fowler said the meeting will also review all the existing tax laws with a view to ensuring their effective implementation for greater result.

Chairman called on the participants to come up with useful suggestions to improve revenue from tax in the country.

Earlier, Kano State Commissioner for Finance, Prof. Kabir Dandago, said the state government would continue to support measures aimed at improving internal revenue generation, not only for the state but for the country.

The meeting was attended by heads of board of internal revenue service from the 36 states, including the Federal Capital Territory (FCT).

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