The Federal Inland Revenue Service recorded a revenue shortfall of N4.88tn within a 10-year period covering 2010 and 2019.
The FIRS data showed that during the 10-year period, the service generated about N43.41tn revenue from taxes.
A breakdown of the tax performance showed that the sum of N2.84tn was generated in 2010 against the target of N2.55tn. This exceeded the targeted revenue by N290bn during the period.
For the 2011 fiscal period, the sum of N4.62tn was generated as against the collection target of N3.63bn, resulting in a positive variance of N990bn.
The service have failed to meet its revenue target as set by the Federal Government since 2015.
Meanwhile, FIRS has given a 30-day window to enable taxpayers obtain tax clearance certificate. Chairman, FIRS Muhammad Nami said the move is to make paying tax easier for taxpayers.
Related posts:
Government rakes in N1.78 trillion in revenue – FIRS
FIRS accounts for 60% of Nigeria’s total revenue in last three months — RMAFC
FIRS to improve tax income revenue following crash in oil prices
FIRS targets N5.9 trillion revenue in 2021
NCC,FIRS inaugurate joint c’mittee to boost telecoms revenue
FIRS generates N10.1 trillion revenue for 2022
FIRS Generates N10.1 Trillion Tax Revenue in 2022
FIRS calls on tax authorities to adopt measures to enhance revenue collection
