Reforms increase non-oil revenue, FIRS insists
Non-OIL income increased, the coronavirus disruptions notwithstanding, the Federal Inland Revenue Service (FIRS) has revealed.
Its Executive Chairman, Muhammad Nami, made the disclosure when he led a team to visit the Minister of Finance and National Planning, Mrs. Zainab Ahmed, in Abuja.
A statement yesterday quoted Nami as attributing the development to reforms introduced by the board and management as well as a renewed vigour in the workforce.
“Non-oil tax receipts have consistently contributed 75 to 90 per cent of total tax revenue in recent months. For instance, of the N490 billion collected by the service in July, only N52 billion was from the oil sector,” he added.
Nami commended the minister for her support, soliciting tighter relationship between the two parastatals.
Responding, the minister admitted that the transformation had made it possible for the three tiers of government to receive their monthly statutory allocations from the Federation Account Allocation Committee (FAAC).
The statement issued by Director, Communications and Liaison Department, FIRS, Dr. Abdullahi Ismaila Ahmad, said Ahmed observed that Value Added Tax (VAT) and stamp duty receipts enhanced collection.
She pledged continued support for FIRS as it works towards diversifying sources of funds.
In a related development, the Office of the Accountant General of the Federation (OAGF) has commenced a review of treasury forms and other accounting documents by ministries, departments, and agencies (MDAs).
The exercise is in line with the mandate of the Accountant General of the Federation (AGF) captured under FR.107 (n) to issue officially approved forms bearing treasury numbers for use in all MDAs for uniformity.
To this end, the Accountant General of the Federation, Ahmed Idris, has inaugurated an inter-ministerial committee to handle the process, according to a statement by the Director of Information, Press and Public Relations, Henshaw Ogubike.