Report: FIRS generates over N2 billion from January to July


FIRS Progress report, 2017.



According to report, the Federal Inland Revenue Service (FIRS) has improved in tax collection this year, due to the latest steps it took.

The source states that the commission made N2.11trillion from January to July, 2017.

The breakdown:  Petroleum Profit Tax – N720.28 billion, Value Added Tax – N548.22 billion. Also, Nartional Information Technology Development Fund (NITDEF) levy – N9.87 billion

Also, The Federal Government recovered Company Income Tax of N679.9 billion and N91.4 billion as Education Tax collection.

The report shows that the Service generated more fund from taxes paid by non-oil sector than the oil and gas.

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