The Federal Inland Revenue Service (FIRS) on Thursday, 24th October 2019 collected N4.012 trillion in three quarters of this year(January-September).
According to the Executive Chairman, Tunde Fowler, while briefing the Senate Committee on Appropriations, the amount is N77.89 billion above the N3.941 trillion collected between January and September 2018.
The amount represents 60.77 percent of FIRS’ N8.8 trillion target for this year.
Fowler told the Senators that, so far, FIRS has collected N4.012 trillion between January and September, which is 61 percent of the total target for the period as against N3.941 trillion collection for the corresponding period in 2018.
Fowler added that he was optimistic that FIRS would do better than the N5.3 trillion it collected last year.
Also, the full-year tax revenue collection in 2018 according to Fowler was N5.320 trillion, which represents 78.86 percent collection performance for the period.
This according to Fowler was why the FIRS's budget for 2019 was raised by N2.02 trillion, representing a 30.4 percent increase over the.
He stressed that the non-oil revenue collection for January to September 2019 stands at N2.423 trillion, representing 72 percent achievement of the non-oil target for the period.
While oil revenue collection of N1.588 trillion represents 49 percent achievement to target for the period.
The FIRS Chairman listed the strategies being implemented towards attaining the N8.8 Trillion target.
They include Information and Communication Technology (ICT) Initiatives, compliance and enforcement initiatives, international tax initiatives, tax amnesty program and expansion of taxpayer database, among other Initiatives.
