FIRS Remits Over N4.95TRILLION Naira In November, Projects To Overshoot Target By End Of 2021

Federal Inland Revenue Service (FIRS) has declared total revenue remitted to various FIRS accounts with CBN at the end of the year 2021 stood at N4.95trillion.

This is said to amount a slight shortfall compared to the revenue target for the year, which was N5.07 trillion which was due to general economic depression, volatile exchange rates, prevailing global economic crises occasioned by the COVID-19 pandemic and poor tax culture among the populace.

The Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami in a paper made disclosure.

“As at 30th November 2021, the Service had collected over 5.03 trillion Naira, being 85% of the national tax target. It projects to meet and even overshoot its target by 31st December 2021.

The surge in remittal was attributed to Chairman of FIRSC, Mr. Muhammad Nami’s unwavering leadership and implementation of four-point objective.

“On assumption of office, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, drew up a four-point objective as a template for his mission to reposition the Service, for efficient service delivery.

Hitherto, the Service had operated without a clear direction thereby dampening the morale of the staff. The cardinal objectives of his administration are: Rebuilding FIRS institutional framework; Collaboration with stakeholders; Making FIRS a Customer-centric institution and Making FIRS a Data-centric institution.’

“These objectives were said indubitably correlate with the three core areas of a tax system, which are, tax laws, tax policy and tax administration.

” A tax system works better by having a robust rapprochement with critical stakeholders, a properly nurtured and sustained customer-centric sentiment and a bias for data analysis and utilisation. All of these can blend well within the framework of a properly positioned and structured corporate institution.”

Mr. Nami is said to have personally seen to the implementation of these initiatives and reforms, which bespeak of a focused and devoted tax administrator and a team player, who understands how to harness human and financial resources to improve the country’s tax system.