FIRS contributed 59.45% of revenue shared by FAAC monthly in 2021 ― Nami

The Federal Inland Revenue Service (FIRS) has revealed that the service contributed over 59.45 per cent of the revenue shared by the Federal Account Allocation Committee (FAAC) monthly in 2021.

Speaking, on Wednesday, in Abuja at the 2nd Annual National Tax Dialogue, the Executive Chairman of FIRS, Muhammad Nami solicited the support of stakeholders in a bid to have an efficient tax system in Nigeria.

Nami said the survival of the nation was dependent on tax revenue as the highlights of the revenue profile of the country in 2021, showed that the FIRS had contributed a monthly average of 59.45 per cent of revenue shared by FAAC.

“All hands must be on deck to support the tax system and make it function efficiently.  However, it is surprising that some people have begun to play politics with tax revenue generation. We humbly invite the President to step-in to dissuade political tax gladiators to sheath their swords. Tax revenue is an inherently apolitical issue; it should be treated as such by all, irrespective of their political leaning.”

Muhammad Nami further highlighted how the FIRS was able to record an unprecedented feat in tax revenue generation in 2021, where the Service surpassed its target and collected N6.4 trillion, the highest collection ever in the history of the FIRS.

According to a statement by Johannes Wojuola,  the Executive Chairman noted that the dialogue discussion was important “in view of the fact that despite our 38 tax authorities, several tax laws and numerous taxes or levies, majority of the taxpaying public still remain outside the tax net.

“The tax-dodgers found it convenient to meander among the competing revenue agencies escaping their tax obligations.  The result is suboptimal revenue generation at all tiers of government.”

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