Good Morning Nigeria: Rallying of the troops by the FIRS chairman
​Rallying of the troops by the FIRS chairman
The executive chairman of the FIRS, Babatunde Fowler, said on Tuesday that the service aimed to raise N4.96trn (US$24.9bn) this year, including N2.00trn from VAT and N1.87trn from companies’ income tax (CIT). In a rallying call at the service’s annual retreat, his message was that it had to meet its targets since the FGN was depending heavily upon non-oil revenue collection to fund its expansionary budget proposals for 2016. A repeat of 2015, when FIRS collections of N3.73trn fell well short of the target of N4.57trn, was not acceptable, the chairman signalled. (The balance of the target for this year would consist largely of petroleum profits tax.)
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