About 70 per cent of over N500bn raised from the
Federal Accounts Allocation Committee in June
came from the non-oil sector, the Executive
Chairman, Federal Inland Revenue Service, Mr.
Tunde Fowler, has said.
Federal Accounts Allocation Committee in June
came from the non-oil sector, the Executive
Chairman, Federal Inland Revenue Service, Mr.
Tunde Fowler, has said.
Fowler, who is also the Chairman, Joint Tax Board,
was quoted in a Monday report by Economic
Confidential as saying, “Of the sum, 70 per cent
came from non-oil sources while only 30 per cent
came from oil sources. It was the first time in 2016
that the Federal Government shared over N500bn
among the three tiers of government during the
FAAC meeting.”
“We are proud of the development and we tell
ourselves that this is the time to fund the budget of
the Federal Government from non-oil sources.
He spoke in Abeokuta, the Ogun State capital,
during a visit by the 36 state chairmen of the State
Boards of Internal Revenue to the Ogun State
Governor, Ibikunle Amosun.
According to Fowler, the FIRS tax revenue collection
is a combination of a robust taxpayer registration
drive, tax education and engagement through the
establishment of the Federal Engagement and
Enlightenment Tax Teams.
He said the audit of five key sectors, namely
banking and the financial sector, aviation, power,
telecoms, and oil & gas had started yielding result.
According to Fowler, the FIRS has added over
700,000 new corporate accounts since he assumed
office.
Nigeria, he said, had a cumulative figure of 10
million registered taxpayers if the number of
taxpayers of States Boards of Internal Revenue and
the FIRS was added.
The FIRS chairman said the JTB had given itself a
target to register at least 10 million additional
taxpayers by December 31, 2016.
He said, “We have commenced tax enforcement
too. We are happy that the efforts of the FIRS in
collaboration with revenue stakeholders are already
yielding positive result.
He thanked Amosun for approving the FIRS’ request
on automated deduction and remittance of Value
Added Tax and withholding tax from the point of
payments to contractors in the state.
Fowler said, “Pursuant to implementing the
collaboration framework, the FIRS requested for an
approval of state governors to allow the automation
of the process of payments on taxable transactions
to enhance the deduction, at source, particularly of
withholding tax and Value Added Tax.
“It is important to note and acknowledge that the
Ogun state governor was the first to acknowledge
and approve the implementation of the process. I
thank Senator Ibikunle Amosun for the
demonstration of his total support towards our
efforts of making the Nigerian tax system efficient.”
