The Chairman of the Federal Inland Revenue Service, Mr Muhammad Nami, has announced that a sum of N4.178 trillion was generated in taxes from January 2020 to October. 2020.
The Chairman who was duly represented by the Coordinating Director, Enforcement Support Group, of the Federal Inland Revenue Service, Mr Ezra Zubairu disclosed that this at the opening ceremony of the International Trade Fair which took place in Lagos.
The theme of the trade fair is “Connecting Businesses, Creating Value”. The chairman stated that the target for January – October was #4.23 trillion which is a little bit above the generated revenue #4.178 trillion. He reiterated that the target for the whole year 2020 is N5.76 trillion.
The revenue increased tremendously irrespective of the pandemic. Mr Muhammad Nami, noted that this year’s edition of the International Trade Fair is in line with the President Muhammadu Buhari’s agenda of positioning Nigeria on the global map as a great trade and exporting nation.
The FIRS chairman, stated that the FIRS took the interest of taxpayers as a priority as a result of which palliatives was introduced to alleviate the effect of the pandemic.
The chairman further explained that the deadline for the window of opportunity for waivers of penalties and interest on outstanding taxes is 31st December 2020.