The Tertiary Education Trust Fund (TETFund) has said the Federal Inland Revenue Service (FIRS) has failed to meet up the target of N500 billion for the Education Development Tax in 2021 due covid-19 pandemic.
Speaking on Monday at the TETFund/FIRS 2021 joint interactive forum in Maiduguri the chairman TETFund Board of Trustees (BoT), Kashim Ibrahim Imam, said “We have jointly targeted N500 billion but we ended up somewhere around N200 billion.
“This particular interaction session is designed for us to put hands together with the Federal Inland Revenue Service which is responsible for collecting education tax on behalf of TETFund. We do this and it has become an annual event. We explore possible ways of how we can improve the taxes and I think this own year is very important, especially against the background of last year pandemic.
“And we expected the director to apologise for the fact that the revenue is not quite what we anticipated.
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“We had jointly targeted N500 billion but we ended up somewhere around N200 billion and it is bad.
“I call up the coordinating director almost every day and keep assuring me that the figure will increase to another one hundred billion Naira.
“I will immediately call the board retreat to prepare our budget for 2022.
“This interactive session provides an opportunity for us to give an account of ourselves and we tell the taxpayers who had been contributing to revenue that this is what we have done and this is what we are doing.
“In 2021 TETFund, has made tremendous achievements in providing essential infrastructure, including equipment and instructional materials, training and development programme, research and funding of other critical activities in different universities, colleges and polytechnic across Nigeria.”
Commenting on the synergy the executive chairman FIRS, Muhammad Nami, said the collaboration between them will enhance their activities, the synergy between the agencies is vital to the transformation evident in public tertiary institutions across Nigeria.
Nami, who was represented by the FIRS’ Coordinating Director, Abba Kabir, said the tax the agency was doing its best to improve tax collection in the country.
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