FIRS says tax revenue from non-oil sector increases

FIRS says tax revenue from non-oil sector increases

The Federal Inland Revenue Service (FIRS) says non-oil tax receipts have consistently contributed 75 to 90 per cent of total tax revenue in recent months.

 

A statement by FIRS Director of Communications and Liaison Department, Mr Abdullahi Ahmad, made this known in Abuja on Thursday.

 

The statement quoted the Executive Chairman of FIRS, Mr Muhammad Nami, as saying this when the members of the FIRS Board paid a courtesy call on the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed.

 

Nami said that in spite of the national and global economic upheaval caused by the COVID-19 pandemic, the service had continued to record significant increase in collectable tax revenue from the non-oil sector of the economy.

 

He said that out of N490 billion collected by the service in July, only N52 billion was from the oil sector, with the rest coming in through non-oil receipts.

 

The FIRS boss attributed the increase in the non-oil sector receipts to reform measures introduced by the FIRS Board and Management as well as the renewed vigour in the service workforce.

 

Nami commended the minister for her support to the service and its Board since its inauguration earlier in the year, and solicited closer working relationship between the FIRS and the ministry.

 

The minister commended the Management and Board of the FIRS for working to limit the disruptive impact of COVID-19 on government revenue through their proactive reforms.

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