The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced that it generated over N43.8 billion in January 2025, revealing that it exceeded its target for 2024 in the process.
Acting Executive Chairman of the FCT-IRS, Mr Michael Ango, disclosed this on Thursday in Abuja during a roadshow to sensitise residents on their tax obligations.
He said while the service believes in voluntary compliance, it would, however, not hesitate to take advantage of the law which has mandated it to enforce appropriate sanctions against erring individuals or entities.
Ango said; “The last time I spoke to you, we had given you an overview of what our collection was at that time. The year had not ended. At the end of the year 2024, we collected a total amount of N262 billion, against a target of N250 billion. While this was good, we believe that it can be better.
“In 2025, we have also started very strong. In the month of January, we collected N43.8 billion. And so far, in the month of February, we are also on track. But you see, the reality about these things is that these monies are not manufactured. They are paid by the taxpayers and the residents of this town. So let me reiterate once more. The taxes that we collect in FCT, we collect personal income tax. We collect capital gains taxes from individuals. We collect stamp duties from individuals. We collect property taxes. We collect entertainment tax, which is another tax that we are really focusing on in 2025.
“We also collect several other taxes and fees due to the FCT. And it is also important to clarify that the FCT-IRS works for the entire FCT. What that means is that we are here to collect revenue for the FCT administration, for the area councils, for the secretariats, for the departments, and for the agencies.
“So for the persons who did not file their returns for 2025, the employers, the law sets a penalty of N500,000 and so we have already written to several of them.
“We are going to write to every one of them. So the minimum penalty is N500,000, but that is just not it.
“We also have the power to prosecute you. You know, criminal prosecution, we can proceed against the principal officers of the company. We can go against the managing directors, the directors and whoever we deem is responsible for this non-compliance.
“It is a lawful obligation, and where the law creates an obligation, it also creates penalties and sanctions for non-compliance.
“We believe in voluntary compliance as the best form of compliance. But if you do not comply voluntarily, we’ll have no option but to enforce the law, even if we don’t want to. The laws mandate us to do so. But we pray and we hope that it doesn’t get there. We pray that one day we’ll have 100% tax compliance in Abuja and we’ll all be able to sit down and say that I contributed to the building of this great city, Abuja City.”
ALSO READ FROM NIGERIAN TRIBUNE
and then