FIRS generated N1.245trn in 4 months

firslogoThe Federal Inland Revenue Service (FIRS) is opening a new office at the National Assembly complex in Abuja. It has also generated N1.245trillion in a spate of four months.

FIRS executive chairman, Ifueko Omoigui- Okauru, disclosed that the amount was generated between January and April 2011 which was 43.9 per cent of last year’s annual collection figure of N2.93 trillion. She noted that though the non oil contribution and tax component of federally collected revenue is looking up, there is room for improvement if Nigeria is to enjoy sustainable revenue.

Omoigui-Okauru was speaking at the International Conference Centre, Abuja, at an interactive forum with members of the National Assembly organised by the Office of the Clerk of the National Assembly as part of the programme of events for the first sitting of the seventh National Assembly.

She stated that the FIRS office in the National Assembly complex would ease the legislators’ access to the services of FIRS and facilitate their compliance with tax obligations.

The FIRS chairman, asked members of the National Assembly to support revenue generation by enacting laws that encourage investment flow that broadens the tax base, charging its committee on finance to vet all fiscal components of bills and liaise with relevant agencies for effective coordination of policy and legislation, enacting laws that address multiple taxation; clarifying ambiguities in the tax system that would encourage improved federal and state relations.

She also charged the lawmakers to lead by example by fully declaring their incomes as individuals and those of the companies they are involved in, deduct amounts due under Value added Tax (VAT) and remit the amount deducted from the Pay As You Earn (PAYE) tax system without delay and with complete data.

Omoigui who listed major ongoing initiatives to include the new and comprehensive enactments of tax laws: (Petroleum Industry Bill, Tax Administration Code, and Value Added Tax Act, complete redrafting of all tax laws in plain English said a National Tax data base linking all revenue authorities together are in the works.

Other initiatives, she noted, include the Unique Taxpayer Identification Number, U-TIN, development of automated and Integrated Tax Administration System, restructuring of State Boards Internal Revenue Service and development of ICT capacity and National Tax Contact Management Centre, amongst others.

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