Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS to sell properties of 52 companies over ₦3.4 bln tax debt

The Federal Inland Revenue Service is to dispose of the properties of 52 companies over tax debts valued at about ₦3.4 billion. Investigations by our correspondent in Abuja showed that already, the Legal Department of the Service had begun the process to sell the properties in a bid to effectively implement the initiative. It was […]

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Babatunde Fowler, FIRS

FIRS vows to surpass ₦5.3 trillion 2018 revenue

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler on Thursday assured Nigerians that his agency would handsomely surpass the ₦5.3 trillion revenue generated in 2018. In a chat with finance journalists on Thursday in Abuja, Fowler said the Service will leverage on robust IT platforms to ensure maximum revenue collection. He explained […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS rakes ₦5.3 trillion in 2018, targets ₦8 trillion for 2019

The Federal Inland Revenue Service, FIRS, re-wrote Nigeria’s collection history in 2018, with a record ₦5.320 trillion collected in taxes, beating the 2012 record of ₦5.07 trillion. Tunde Fowler, Executive Chairman, FIRS, who made the announcement in Lagos today at a retreat: “Parliamentary Support for Effective Taxation of the Digital Economy” said it is targeting […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS generates ₦273.5 billion as VAT for Q3’18: NBS report

A total of ₦273.5 billion was generated by the Federal Inland Revenue Service, FIRS, as Value Added Tax (VAT) for the third quarter 2018, Q3’18. This, according to the report of the National Bureau of Statistics (NBS) released yesterday, represents 9.16 percent year-on-year (YoY) increase on the ₦269.79 billion generated in the same period in […]

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Babatunde Fowler, FIRS

FIRS generates ₦5 trillion, targets ₦5.3 trillion by year end

The Executive Chairman, Federal Inland Revenue Service, FIRS, Mr. Tunde Fowler has said the Service has generated ₦5 trillion by the second week of December 2018, adding that the agency is at the verge of making ₦5.3 trillion at the end of the year. Speaking at the induction of new members of the Joint Tax […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

Nigeria’s taxpayer set to hits 33 million, says Fowler

The country’s taxpayer roll is set to hit 33 million. This was disclosed by Mr. Tunde Fowler, Chairman, Joint Tax Board (JTB) and Executive Chairman, Federal Inland Revenue Service (FIRS) at the 142nd meeting of the JTB in Bauchi Monday. According to Fowler, the ongoing database consolidation of the JTB, an initiative being executed in […]

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Babatunde Fowler, FIRS

FIRS generates ₦4.3 trillion tax revenue from Jan to Oct –Fowler

The Federal Inland Revenue Service on Friday said it generated₦4.3 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 […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS to raise tax-to-GDP contribution by 20 pct

The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period. As part of efforts to achieve this target, the FIRS said it had started introducing some initiatives, according to a communiqué issued after a recent meeting of the […]

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Babatunde Fowler, FIRS

FIRS to targets billionaire tax defaulters – Fowler

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has disclosed that the agency will soon target defaulting taxpayers who have billions in their bank accounts but refuse to honour tax obligations to the country. He said over 6,772 billionaire taxpayers had been identified by the service leveraging on bank data, […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FG to sell properties, freeze 6,772 accounts of tax evaders

The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, said on Thursday that the government would sell properties built and developed in corporate names across the country on which taxes were not being paid. Fowler disclosed this in Lagos at a stakeholders’ meeting, where he noted that the country still had one of the […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS shuts NNPC subsidiary, others over tax default

The Federal Inland Revenue Service (FIRS) has sealed off the premises of companies defaulting in tax payments in Lagos and Benin, in continuation of its enforcement exercise. A key establishment affected by the exercise in Benin, Edo state, is the Nigerian Petroleum Development Company Limited, NPDC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC. […]

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LCCI condemns freezing of customers’ bank accounts over tax payment dispute

The Lagos Chamber of Commerce and Industry (LCCI) on Thursday decried freezing of customers’ bank accounts based on “disputed tax assessments” by Federal Internal Revenue Service. The Director-General of LCCI, Mr Muda Yusuf, also described the new tax revenue recovery strategy adopted by FIRS as damaging to the economy. “The attention of LCCI has been […]

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