FIRS Targets 40,000 Wealthy Tax Cheats
- Rakes in N23bn last year
BY EDMOND ODOK, ABUJA – The Federal Inland Revenue Service (FIRS) has vowed to track down and capture in its revenue dragnet about 40,000 wealthy tax defaulters in 2019
Executive Chairman of the Service, Mr Tunde Fowler, said there is no hiding place for all rich individuals and big businesses identified by FIRS as chronic tax defaulters or evaders in the country.
Speaking when the Acting Inspector General of Police, (IGP), Mohammed Adamu visited him at the Revenue House in Abuja, Mr Fowler said the Service intends to exploit its robust partnership with security agencies to bring all tax defaulters, especially the affluent, to book this year.
According to him, the Service is ready to exchange required information and the list of tax defaulters with the Police and relevant security agencies as part of measures aimed at ensuring every Nigerian pays his or her tax correctly.
He disclosed that its thoroughness in scrutinizing existing bank records, the FIRS raked-in over N23 billion as income from about 45,000 individuals and corporate bodies with over N100 million as turnover in their operational bank accounts.
A statement by the Head Communications and Servicom Department of FIRS, Mr Wahab Gbadamosi, quoted Mr Fowler as saying the Service would not renege in delivering on its statutory mandate of improved revenue generation for the country.
He appreciated the Nigeria Police for its huge support and partnership that have assisted FIRS to achieve set targets over the years.
“Let me put on record that the Nigeria Police Force has been extremely helpful to FIRS. Without the Police, I doubt if the Service would have been able to achieve what we have achieved.”
The statement further said; “2018 was a successful year. The FIRS collected a total of N5.320 trillion of tax revenue. This is the highest revenue collection in the history of the service.
“This is significant, because this collection was when oil prices oscillated between $50 and $70 per barrel.”
“Oil price was at an average of $100 to $120 per barrel between 2012 when FIRS collected N5.07 trillion.”
The FIRS boss explained that oil component of the N5.320 trillion is N2.467 trillion, representing about 46.38 per cent, while non-oil element collection of N2.852 trillion, represents about 53.62 per cent.
In his remarks, Acting IGP Adamu said the Police would continue to support FIRS given the critical nature of revenue generation to the country’s survival and sustainable economic growth.
He described as vital FIRS’ role in the economic health of Nigeria, and stressed the need for all relevant stakeholders to support and encourage the Service to achieve its mandate.
