FCT-Internal Revenue Service remits N118bn in 2021, targets N202bn in 2022

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has collected and remitted N188Bn into the coffers of the Federal Capital Territory Administration (FCTA) as of the end of November 2021, surpassing the projected revenue target of N109 billion for the year.

The Acting Executive Chairman of Federal Capital Territory Internal Revenue Service, Haruna Y. Abdullahi made this known in Abuja on Wednesday while having a parley with pressmen during the end of the year media briefing.

According to Abdullahi, “In spite of the challenges faced by the Service and the FCT due to the impact of COVID-19, we were able to achieve and surpass our revenue target of N109billion by 108% as at the end of November 2021. With this, the Service has so far collected and remitted the sum of N118billion.

“Within the year under review, the Service engaged some consultants to conduct a six-year back duty tax audit of Ministries Departments and Agencies (MDAs), Enterprises and Corporate organisations with a presence in the FCT. This engagement has started yielding fruits because liabilities have been established and demand notices have been issued in accordance with section 54 PITA, CAP P8, LFN, 2004 (As amended).

“We are currently meeting with about 250 MDAs for review and reconciliation of IPPIS/Personal Income, Tax/PAYE to address issues of wrong remittances, non-remittance, and under-remittances of employees of MDAs in the FCT.

“We will not rest on our oars until the Service becomes the highest Sub National Revenue Service Agency in the Country. We cannot achieve this alone; hence the need for the support of all our major stakeholders including the media.

“For the year 2021, we have a revenue target of N202 billion. Though it is a huge task, but with the determination and commitment of the Board members, Management, Staff, and stakeholders like you, we shall achieve the 2022 target,” he stated.

Abdullahi explained that FCT-IRS is making taxation easier by opening additional tax offices in places like Kuje, Bwari, and Gwarinpa, as well as using an automated payment system, so that payment and filing of tax returns, so that taxpayers won’t necessarily visit FCT-IRS.

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