The Federal Inland Revenue Service (FIRS) has collected N12.66 in tax revenue from billionaires who failed to pay their taxes.
This was revealed by the Executive Chairman of FIRS Tunde Fowler on Friday when he received the new Minister of Finance Zainab Ahmed as she visited the Revenue House in Abuja.
“The FIRS wrote to all commercial banks in May 2018 requesting for a list of companies, partnerships, and enterprises with banking turnover of N1bn and above,” he said.
“This activity is aimed at ascertaining those companies that are compliant with the tax laws and those that are not compliant. So far, the non-compliant organisations have paid about N12.66bn
“The FIRS will continue to implement initiatives that will drive compliance and generate revenue by continuous taxpayer enlightenment; implementation of the Auto VAT Collect in other sectors of the economy; simplification of the tax processes, especially for small taxpayers; strengthening collaboration with other agencies such as the Corporate Affairs Commission, states’ boards of internal revenue; Ministry of Industry, Trade and Investment; and the Nigeria Customs Service.”
According to him, “The Ministry of Finance will continue to work collaboratively with the FIRS to support all the efforts that you are making. And as much as possible, we should interface frequently.
“For us, the directive I have is to increase the tax revenue and that is the most important task ahead of all of us. You have done well. And the reward for good work is more work.”