The Federal Inland Revenue Service says it is targeting N8.5 trillion revenue for the country in 2020.
He stated that assessing the service’s performance in the recent past, one could look at 2020 target as ambitious but it was achievable. 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.“In 2019, the FIRS achieved total tax revenue collection of N5.263 trillion against target of N8.802 trillion which translated to about 60 per cent target achievement for the year.
“On the other hand, non-oil taxes collection for the year was N3.152 trillion which was 70 per cent achievements of the annual target of N4.501 trillion and accounted for 60 per cent contribution to the total collection,” he explained.
That is if thier staff stop sharp practices
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