FIRS exceeds revenue target, improves tax compliance
L-R: Mrs Dapo Awolowo (Head, Office of the Special Adviser on Media to the Chairman, Federal Inland Revenue Service, FIRS); Mr. Dare Adekanmbi (Special Adviser on Media to the FIRS chairman); Mr. Charles Okonji, National Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN); Mr. Femi Olarinde (Special Adviser on Tax Policy) and Mr. Sikiru Akinola (Technical Assistant, Media) at the FIRS Media Parley with CICAN members in Lagos on Thursday
FIRS exceeds revenue target, improves tax compliance
Nike Popoola
The Federal Inland Revenue Service (FIRS) has said the Service has succeeded in surpassing its revenue target, and improving tax compliance.
The Special Adviser on Media to the FIRS chairman, Mr. Dare Adekanmbi,
said this during a media parley in Lagos, while speaking on some of the achievements of the FIRS since Dr Zacch Adedeji assumed office in September 2023.
Adekanmbi noted that the FIRS achieved remarkable success in simplifying tax processes by offering personalised services and enhancing tax education, and also increased tax compliance by 20%.
He said, “The FIRS achieved 107% of 2023 revenue target of N11.55tn by collecting N12.36tn; We have achieved 81% of the collection of first quarter 2024 amounting to N3.94tn, being an all-time highest in the same quarter and 56% higher than Q1, 2023.”
He added that the FIRS has integrated nine new modules on tax administration system, TaxProMax, automating over 80% of manual processes.
It also revolutionalised tax office operation into a streamlined “One stop shop” catering to diverse taxpayers by their categories consisting of large taxpayer, medium taxpayer and small taxpayer, he said.
This, he noted, has improved customer satisfaction and has significantly reduced customer complaints between the fourth quarter of 2023 and the first quarter of 2024.
He disclosed that the FIRS launched the National Single Window initiative which aims to spur economic growth, providing business enterprises with effortless access to the global market by facilitating fast and easy operation at the nation’s port, while harmonising and improving government revenue.
It also improved the tax compliance of international shipping companies lifting crude oil in Nigeria, he said.
In pursuit of optimizing operations and enhancing overall effectiveness, he said, FIRS has strategically realigned its focus to bolster productivity, efficiency, and cultivate a customer-centric ethos.
As part of this endeavour to meet new targets, he added, the FIRS has revised its structure to reflect the following which are people-centric, effectiveness & efficiency, cohesiveness, data-driven approaches, adaptability, and cutting-edge innovation.
He said the FIRS strategic drivers for success are people, technology and process.
