• The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
Monday, January 30, 2023
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects & Partnerships
    • AUN-PT Data Hub
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects & Partnerships
    • AUN-PT Data Hub
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
Federal Inland Federal Inland Revenue Service (FIRS) is Nigeria's tax collection agency

Federal Inland Revenue Service (FIRS) is Nigeria's tax collection agency

FIRS records four million new taxpayers, N700 billion revenue increase in 2017 – Fowler

byAgency Report
March 21, 2018
Reading Time: 2 mins read
0

The Chairman, Federal Inland Revenue Service (FIRS), Tunde Fowler, said the Service recorded four million new taxpayers, including companies and individuals, resulting in N700 billion increase in revenue in 2017.

Mr. Fowler said this at the 13th General Assembly of the West African Tax Administration Forum (WATAF) with the theme: “Enhancing the Revenue Potential of West Africa” held on Wednesday in Abuja.

The chairman said in the past two years, the service had increased its use of ICT to facilitate taxpayers’ compliance.

He also said the service introduced initiatives to improve inter-agency collaboration with a view to enhancing tax administration and reducing tax revenue leakages.

“Our efforts in this regard have made an impact and contributed to an increase in the number of taxpayers by an additional four million, including companies and individuals.

“We recorded an increase of over N700 billion in tax revenues in 2017, above the taxes collected in 2016,” Mr. Fowler said.

He said the launch of WATAF marked its formal entry into the ranks of similar organisations focused on international collaboration in tax matters, having attained the statutory requirements spelt out in the WATAF Agreement.

Mr. Fowler said this marked a new dawn in the consolidation of WATAF collective aspiration to improve the standard of living of its people through effective mobilisation of available domestic tax revenue.

Atiku-Okowa AD

“Now, West Africa has a platform for countries to collaborate in tax matters supported by their governments and a forum to articulate and project West African perspective in tax administration in the global tax arena.

“We all are aware that the business community is setting up processes and structures which our legal and tax regimes did not contemplate and are struggling to keep up with.

“Nowadays, trade and commerce have become borderless, especially with the advent of e-commerce, hybrid financial instruments coupled with the sophistication and ingenuity of the army of tax advisors.

“At the receiving end are the host country and its nationals, whose governments are losing revenues that ought to have been put to use for development.

NAHCON State AD NAHCON Tour Operator AD NAHCON Cargo Operator AD

Kogi AD

TEXEM Advert

“This further brings about stagnated growth, under development and other attendant ills in our countries,’’ he said.

Mr. Fowler said against this backdrop, it was pertinent for tax administrators in West Africa to re-strategise to live up to their mandate.

The Chairman of WATAF, Elfrieda Tamba, said the aim of WATAF was to bring tax administrators within the region together to share knowledge, interact and share experiences in order to better tax administration in the region.

Dangote adbanner 728x90_2 (1)

Mrs. Tamba said countries must strengthen their capacity for sustainable development and how to use fund for sustainable development.

“WATAF so far has consolidated its legal status, today we are celebrating the official launch of WATAF as a solid legal entity, fully empowered to engage in negotiation to enter contracts, to sue and be sued.

“Today, WATAF has concluded all the necessary requirements to fulfill its objectives and honour the agreement to be an international origination.

“This is important as we deal with international organsations, they will want to know WATAF legal status, and so this is a fulfillment of our own agreement and that goal has be met,’’ Mrs. Tamba said. (NAN)

Share this:

  • Twitter
  • Facebook
  • WhatsApp
  • Telegram
  • LinkedIn
  • Email
  • Print



Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate



TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

Scrap NNPC now, ex-CBN deputy governor tells Nigerian govt

Next Post

Alleged rape of toddler: In tears, mother narrates story

Agency Report

Agency Report

More News

New Naira Notes

Naira Redesign: CPPE says 10-day extension inadequate

January 29, 2023
Atiku in Kebbi State [PHOTO: TW @atiku]

Atiku in Kebbi, vows to reopen all Nigeria’s land borders if elected

January 29, 2023
New Naira notes

Naira Redesign: CBN can’t continue to snub Nigerians

January 29, 2023
Finance minister, Zainab Ahmed.

Again, Moody’s downgrades Nigeria’s credit rating

January 28, 2023
NMDPRA

Nigerian petroleum agency blames cross-border smugglers for scarcity

January 28, 2023
United Bank of Africa, Lagos head office.

Naira Redesign: Banks announce weekend operations

January 27, 2023
Leave Comment

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2022 The Premium Times, Nigeria

No Result
View All Result
  • Digital Store
  • Home
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Gender
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • AUN-PT Data Hub
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • Dubawa NG
  • Careers
  • Contact Us

All content is Copyrighted © 2022 The Premium Times, Nigeria