FIRS Generates N12.6trn Revenue In 3 Years

The Federal Inland Revenue Service (FIRS), has said it generated N12.62 trillion revenue from taxes  in the last three years.

This was revealed in a document on its achievements, a copy of which was made available to newsmen in Abuja by its  Head, Communications and Servicom Department, Mr Wahab Gbadamosi.

A breakdown of the amount showed that N3.3 trillion was generated in 2016, N4.02 trillion in 2017 and N5.32 trillion was realised in 2018, making it the highest revenue generated in the last three years .

According to the document, the FIRS under the leadership of Babatunde Fowler, designed initiatives to ensure a robust tax administration that is beneficial to all stakeholders.

The organisation explained for instance that non-oil tax revenue increased to N2.149 trillion in 2016, N2.5 trillion in 2017 and N2.852 trillion in 2018.

The document quoted Fowler as saying that “the achievements mentioned above also demonstrate the diversification of the Nigerian economy by the Federal Government.

“This does not mean that we have left behind the oil tax revenues. It grew from N1.15 trillion in 2016 to N1.52 trillion in 2017 and N2.52trillion in 2018. Non-oil tax revenue is still over in excess of the oil tax revenue.

“We also do collect four per cent in terms of cost of collection but only for non-oil revenue collected. On oil revenue collection, we do not get any commission and we have been able to make sure that our services are more efficient and convenient to taxpayers.

“This has brought about a considerable reduction in the cost of collection of actual taxes.

“In 2016, it was 2.6 per cent, 2017, 2.49 per cent and 2018, 2.14 per cent, meaning that our actual cost of collection is heading downwards based on the efficiency and technology that we are deploying to tax collection.

“Some of the ICT initiatives that we have continued to build on are the e-payment channels which make it convenient and easy to pay taxes anywhere in the world and to also download receipts of payment from any point one so desires,” he said.

SUN

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FIRS Seals HFP, Costain, Others Over Tax Defaults

The Federal Inland Revenue Service (FIRS), yesterday sealed the premises of Costain West Africa Limited and HFP Engineering Limited over N223.5 million and N87.6 million tax liabilities.

FIRS team, led by Aisha Duze, also sealed the premises of Prest Cruise Waterfront Hotel, Lekki Phase 1, over a N20 million tax liability. Also sealed was I-Fitness Centre Limited, Lekki Phase 1, which owes N15 million in taxes.

In the Surulere area, the team sealed the premises of Swiftalk Limited, which has a tax liability of N50.5 million; and Logic Science, which owes N53 million.

The team had on Tuesday shut down activities at CEDDI Corporation in Apapa over a tax debt of N385 million, HJ Heinz Nigeria Limited in Mushin, over N81.4 million unpaid tax and Temple Preparatory School on 213, Ikorodu Road, for N22 million outstanding taxes.

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FIRS Generates N4.3trn Tax Revenue From Jan To Oct – Fowler

The Federal Inland Revenue Service (FIRS) on Friday said it generated N4.3 trillion as tax revenue between January and October this year.

FIRS Executive Chairman, Babatunde Fowler, disclosed this during the “Federal Inland Revenue Service Special Day” at the ongoing Lagos International Trade Fair held at Tafawa Balewa Square.

Represented by Mrs Angel Fadahunsi, FIRS South West Head, Federal Engagement and Enlightenment Tax Team, Fowler expressed optimism that the service would meet up with its 2018 revenue target before the end of the year.

“I am pleased to inform you today that the FIRS has recorded remarkable performance in terms of revenue collection this year.

“For instance, as at October 31st, our collection was N4.3 trillion and we believe we have the potential to meet our assigned target at the end of the year.

“We realised that this performance would not have been possible but for the present administration’s policy of expanding the nation’s tax base and blocking revenue leakages,” he said.

Fowler said that the agency focused its attention on businesses with over a billion naira in annual turnover without any record of commensurate payment of tax obligations to boost its revenue performance.

He noted that about 6000 of such companies had been identified and contacted by the service leveraging on various data sources.

” We will continue to focus on recovering all such revenues due to the Federal Government and the people of Nigeria.

” We encourage the business community and all well-meaning citizens to continue to partner with us to ensure that defaulters are traced and face the consequences while compliant businesses receive all the support they require,” he said.

Fowler said the agency was working assiduously in ensuring that it aligned with all efforts to grow national revenue from taxation while easing the inherent administrative burdens.

“We place emphasis on human resources as one of several tools to achieve our aim of expanding the tax net.

” This is why we recently recruited young Nigerians to support our bid to effectively provide adequate services to all the nooks and crannies of the country,” Fowler said.

The FIRS boss said the service had undertaken some actions to further reduce the burden of taxation, including the  review and approval of National Tax Policy by the Federal Executive Council.

“This provides strategic direction on tax administration and national focus.

“Another thing is working under the auspices of the Joint Tax Board, we continue to advocate for the simplification, harmonization and streamlining of processes, levies and taxes at the state and local government levels,” he said.

Earlier, Babatunde Ruwase, President, Lagos Chamber of Commerce and Industry (LCCI), urged FIRS to expedite action to address issues of multiple taxes toward easing the business environment.

The News Agency of Nigeria (NAN) reports that the Lagos International Trade Fair, organised by LCCI, started on Nov.2 and will end on Nov 11.

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FIRS Rakes About N13bn From Defaulters

The Federal Inland Revenue Service (FIRS), says it has collected N12.66 billion in tax revenue, in less than a month from defaulting taxpayers.

The Executive Chairman, FIRS, Mr Tunde Fowler, disclosed this at the weekend when he received the new Minister of Finance, Zainab Ahmed at the FIRS headquarters in Abuja.

Mr Fowler said the initiative was aimed at ascertaining those companies that are compliant with the Tax Laws and those that are not compliant.

Responding, Mrs Zainab Ahmed who is overseeing the ministry of Finance, said the ministry would continue to collaborate with FIRS to increase tax revenue.

She noted that FIRS should do more on revenue drive and collection to support the government’s projects.

The Minister encouraged government agencies to work together to fish out all corrupt persons in the country, as directed by President Muhammadu Buhari.

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FIRS To Commence Audit Of Taxpayers Nationwide – Fowler

Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, Thursday, said that the Service would soon commence an audit of taxpayers across the country.

Fowler stated this in Lagos while delivering a keynote address at a stakeholders’ meeting on “Tax Administration and National Revenue”.

The stakeholders’ meeting was aimed at charting the way forward for the country’s tax administration and proffering solutions to the challenges hindering a robust tax regime.

He said that the nationwide audit would ensure improved tax revenue collection, better service delivery to taxpayers and enhanced voluntary compliance, while urging stakeholders to support efforts at repositioning the country’s tax administration system.

Fowler, who is also the Chairman of the Joint Tax Board (JTB), said that the board was determined to improve services to taxpayers at all levels.

According to him, a consolidated Taxpayer Identification Number (TIN) database was already in place under the JTB, adding that all tax laws that were not in the interest of the taxpayers were already undergoing a review process.

The FIRS boss added that taxpayers and stakeholders should support tax authorities in the interest of national development.

“The greatest challenge facing any tax administration is achieving and maintaining a high degree of self- assessment and voluntary compliance by taxpayers.

Studies, however, show that the extent to which an economy is able to grow sustainably and develop depends to a large extent on its ability to generate tax revenue to finance its expenditure and the efficiency of tax system.

“The questions that arise from these simple statements include how to identify areas of non-compliance; how to measure the level of non-compliance; and how to address non-compliance,’’ Fowler said. He further explained that FIRS had put in place various strategies to curtail non-compliance to improve tax revenue collection on a sustainable basis.

“Well-designed taxpayer services, education programmes, and creative measures can facilitate self-assessment and compliance,’’ Fowler said.

According to him, the major determinants of tax compliance include changes in law, taxpayers’ attitudes to payment of right taxes and tax consultants’ offering the right advice to the taxpaying public.

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FIRS Boss Denies Alleged Report Of Multiple Taxation

Chairman of the Federal Inland Revenue Services (FIRS), Babatunde Fowler, has declared that contrary to widely held notion, there is no case of multiple taxation in the country.

Fowler, who briefed State House Correspondents after a session with the Federal Executive Council (FEC), also said the Council had ratified the automatic exchange of information with other countries.

The FIRS boss equally said those who refused to take advantage of the grace given by the Voluntary Assets Income Declaration Scheme (VAIDS) policy, which expired at the end of last month, would be made to pay their taxes with the corresponding penalties.

He said: “Let me say once again that we do not really have a situation of multiple taxation. You only have multiple taxation when you pay the same tax to different tiers of government. What we have found out is that a lot of people categorise any payment to government as a tax. For example, if you receive fine or a penalty, they call it a tax. If you pay for the parking space, they call it a tax. Those are the things you refer to as user-charges and not taxes.”

Fowler, who explained why he appeared before FEC, said: “I was here today to attend the meeting with the minister of finance to ratify the automatic exchange of information. Basically, what this means is that Nigeria as a country exchange financial information with other member-countries which hopefully should improve our revenues and also ensure that all Nigerians that do have investments or businesses or incomes abroad will pay their taxes as and when due.”

On update on VAIDS, he said the update is that it expired on June 30 and anyone who has not come forth by now, shall be brought to book and be compelled to pay the appropriate tax with interests and penalties.

He said: “Well, the response has been very good. We are collating all the figures both at the federal and state levels and I believe that by the middle of July, we should be able to tell the nation the exact progress in terms of the numbers that have declared, amount that have been paid and amount that is going to be paid in instalmentally.

“The Federal Government has through the Ministry of Information and also through the office of the Vice President been talking about the different projects that have been financed with tax revenues and I think as Nigerians begin to see those dividends of democracy, very good spending, people will be more encouraged to pay more taxes.”

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VAIDS: FIRS Generates N17bn In Six Months

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Flower, has revealed that the tax amnesty granted by Federal Government under Voluntary Assets and Income Declaration Scheme (VAIDS), raked in N17 billion between June and December 2017.

Fowler made this disclosure at the flag off of VAIDS public enlightenment, on Thursday, in Abuja.

According to him, an additional N6 billion is expected for remittance before the end of December 2017.

The tax agency also noted that it had identified 2,000 properties in various parts of Federal Capital Territory (FCT), Abuja whose owners neither pay taxes nor file returns on them.

Fowler added that more firms are keen to seize the window of opportunity offered by amnesty to regularize their tax status, adding that they have engaged consultants who are asking questions for clarification.

“Less than 500 firms have paid N17 billion and another N6 billion is being expected to be paid before the end of December. Also, $50 million has been declared by individuals with properties and investment overseas, so VAIDs is also providing foreign exchange for the country. “In terms of number, we have not gotten the type of crucial number we envisaged. When we gave tax amnesty, we have 2,700 companies that applied for it, now we are talking about several companies that have come under VAIDS. A lot more needed to be done.

Companies are asking questions, talking to consultants; we expect a whole lot more to come in as the programme gets to a close. “All this will help improve the low tax ratio from six per cent to 15 per cent by 2020 and curb the use of tax havens for illicit fund flow and tax avoidance,” he said.

The FIRS boss further stressed that the March 2018 deadline given to people and firms to regularise their tax defaults is sacrosanct and will not be shifted.

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FIRS Generates N3.233 Trillion In 10 Months

The Executive Chairman of Federal Inland Revenue Service (FIRS), Tunde Fowler, has revealed it has generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017.

Fowler said this in Abuja, at an interactive session for review of 2018–2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), organised by House of Representatives Committee on Finance and Appropriations.

According to him, FIRS deployed technology to ramp up more revenue for the Country, especially as its tax assessment between 2013 and 2015 revealed N1 trillion after its tax audit exercise.

While listing the measures that brought about the successes, Fowler said the new modalities structured for optimal access of accruable dues from Voluntary Assets and Income Declaration Scheme (VAIDS) had yielded over 54 million dollars (N16.73 billion) and N207.41 billion), totalling about N16.40 billion at the federal level only.

“We have stepped up enforcement activities against task defaulters on different fronts; these include placing non-compliance stickers on business premises of tax payers with outstanding amounts but made no move to liquidate it.”

“We also adopted substitution as enforcement tool by putting a lien on the bank account of erran tax payers. “This in my view will serve as deterrent to defaulters and consequently increase tax collection.

“FIRS has so far collected over N6 billion and $4.2 million (over N1.4 billion), totalling over N7.7 billion. “This drive is continuous and will be unrelenting going forward,” he said.

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FIRS Denies Closure Of Intels

The Federal Inland Revenue Services (FIRS), has denied report it closed down Intels, a company belonging to former Vice President, Atiku Abubakar.

The agency’s spokesperson, Mr Wahab Gbadamosi told pressmen that report circulating round some media that Intels was sealed is not true.

According to Gbadamosi, Intels was only served with a notice to comply with its tax obligations, which was routine.

“FIRS did not seal Intels. We only pasted a notice of tax compliance at the gate, this notice is served to companies to ensure they comply with Value Added Tax and Companies Income Tax obligations. We serve such notices all over the country, that is the mandate of FIRS. Intels case in not unique”, he explained

 

 

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FIRS Seals Four Firms Over Tax Debt Of N630m

The Federal Inland Revenue Service, FIRS, on Monday, sealed four companies in Lagos and Port Harcourt over failure to meet tax obligations totalling N630 million.

The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt, and Cioscon Nigerian Limited at 14 Aba Road, Port Harcourt.

The leader of the FIRS enforcement team, Mrs. Anita Erinne, sealed both companies after showing a warrant of distraint to officials of the company.

Charcoal and Spices Restaurant Limited owes N12,388,979.50 tax debt while Cioscon Nigerian Ltd has a tax liability amounting to N479,203,464.43 from 2014 to 2016 which the firm has failed to remit.

Erinne told the defaulting firms that the companies’ premises will be unsealed when they clear their outstanding tax bills.

She warned the workers not to unseal or tamper with the FIRS seal until the debts are cleared, stating that any attempt to remove the seals will be a contravention of the law.

Erinne, however, noted that the firms have been officially notified of their indebtedness to FIRS, stating that all the companies’ taxes should be paid before their premises could be unsealed.

In Lagos, the enforcement team of the FIRS sealed Joza Global Service situated at 18, Ribadu Road, Ikoyi, Lagos over a tax debt of over N30.6 million. The FIRS team also sealed-off Spog Petrochemicals Limited situated at 50d, Glover Road, Ikoyi, Lagos over a tax debt of N105.5 million.

Last week, the FIRS sealed off the premises of tax-owing companies in Abuja. Among these was an educational facility, Fanaks International Schools in the Asokoro area of the federal capital. The school was owing a total of N976,133.57 in Company Income Tax (CIT), Education Tax (EDT) and Withholding Tax (WHT).

Also sealed was Hotel Bahamas International, which was owing N694,045.29 in CIT, EDT, WHT for the 2015 assessment year.  Another hospitality facility, Dabiyi Hotels and Suites in Kurudu was sealed over tax liabilities totaling N4,191,996.26 carried over from the 2014 assessment year.

 

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Tax Evasion: FIRS Boss Goes After Private Jet Owners

Executive Chairman of the Federal Inland Revenue Service (FIRS) Mr. Tunde Fowler, who has vowed that his agency would ensure that private jet owners in the country do not evade tax.

Fowler said this while speaking at the “FIRS and Global Forum on Transparency and Exchange of Information on Tax Purposes workshop in Lagos at the weekend.

The FIRS boss in his speech lamented the transfer of illicit fund to other countries and how it has remained undetected.

His words: “I did find out information that Nigerians and Nigerian organisations have 29 private jets registered in South Africa and the issue is, how much tax do they pay here?

“We are not even talking about the issue of how they got the money to buy the jets, but first of all how much tax they have paid to the Federal Government of Nigeria and the issue to their source would be dealt with later on.

“For Africa, it is important we help each other. And the only way we can help each other is through automated exchange. Each African country present here today needs to maximise its revenue through taxation. And the only way to maximise it is when we exchange information.”

He added: “Another issue that was in the news some weeks ago was one of the most expensive penthouse suites in New York that was foreclosed and was bought by a Nigerian called Aluko, who was involved in oil scams.

“The issue is that some countries may say ask no questions but the US that allowed that individual to buy a $59 million apartment without asking questions also has a scheme now for all Americans that have investments or bank accounts outside America.

“They have given the countries where they have those accounts a certain time limit to provide the information to them even without any international legal agreement. So if developed countries can be looking at their bottom line in terms of tax revenue, we also should.”

 

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FIRS Seals Bolingo Hotel

The Federal Inland Revenue Service (FIRS) has sealed Bolingo Hotel in Abuja over property variation of about N320 million and non-remittance of Value Added Tax (VAT) of N20 million.

A reliable source disclosed this to the News Agency of Nigeria (NAN) on Wednesday in Abuja

“ It is FIRS that sealed the hotel, I learnt that the hotel is owing in a property variation and remittances of VAT.

“ The hotel is owing property variation of about N320 million and VAT of about N20 million,” the source said.

In the last quarter of 2016, the Bolingo hotel was sealed by FIRS over tax evasion.(NAN)

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