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Nigeria’s Federal Inland Income Service (FIRS) has introduced the very best tax income in its historical past, accumulating N10.1 trillion in tax revenues in 2022.
A statement seen by Nairametrics stated the FIRS earned N4.09 trillion in oil revenues (41%) and N5.96 trillion in non-oil revenues (59%). That is towards a goal of N10.44 trillion set for the yr.
- “Firms Earnings Tax contributed N2.83 trillion, Worth Added Tax N2.51 trillion, Digital Cash Switch Levy N125.65 billion and Earmarked Taxes N353.69. Non-Oil taxes contributed 59% of the overall assortment within the yr, whereas oil tax assortment stood at 41% of the overall assortment,” the assertion defined.
How this was actualised: The Govt Chairman of the FIRS, Muhammad Nami, stated this was made doable by way of “dogged implementation of strategic reforms over the previous 2 years, a renewed dedication by officers of the service, accompanies with a boosted morale, in addition to the progressive deployment of know-how for automation of each tax administration and operational processes”.
In 2023, he stated the service would construct on the present reforms, obtain full automation and proceed to determine a resilient service that will proceed to supply sustainable tax income to FG
2021 efficiency: Nairametrics reported final yr that The FIRS, within the yr 2021 collected a complete of N6.405 trillion in each oil (N2.008 trillion) and non-oil (N4.396 trillion) revenues as towards a goal of N6.401 trillion.
“Firms Earnings Tax amounted to N1.896 trillion; Petroleum Income Tax amounted to N2 trillion; Worth Added Tax amounted to N2.07 trillion; Digital Cash Switch Levy amounted to N114 billion; Earmarked Taxes amounted to N208.8 billion; amongst others.”
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