Nigeria’s Federal Inland Revenue Service (FIRS) says it is targeting $27.9 billion (about N8.5 trillion)
in tax revenue in 2020, the Executive Chairman of FIRS, Mr. Muhammad Nami, said at the 2020
Corporate Plan Retreat in Abuja.
Nami said that the 2020 target was slightly lower than the 2019 target by about $983 million (N300 billion).
He explained that the target was broken down into oil and non-oil taxes.
He stated that assessing the service’s performance in the recent past, one could look at 2020 target as ambitious, but it was achievable.
The FIRS boss assured that the target was achievable and realizable, especially with the ongoing reforms and business process re-engineering that were currently taking place in the service.
According to him, these reforms are aimed at improving both filing and payment compliance, re-activation of dormant taxpayers through aggressive intelligence gathering and information sharing and blocking of leakages.
He reiterated the commitment of the service in working to realise President Muhammadu Buhari’s vision of taking 100 million Nigerians out of poverty in 10 years by collecting robust revenue to develop infrastructure.
MM/GIK/APA