FIRS Hits Tax Defaulters, Recovers N23bn from 45,000 Millionnaires
The Federal Inland Revenue Service (FIRS), Thursday said it has recovered the sum of N23bn from tax defaulters.
The Executive Chairman, FIRS, Mr. Tunde Fowler, said the amount was realised from 45, 000 tax defaulters, who had over N100 million turnover in their individual bank accounts.
Fowler who said that another 40,000 defaulters will be targeted this year added this was through crackdown on the defaulters in collaboration with the Nigeria Police Force.
In a statement, the Head of Communications & Servicom Departments in FIRS, Mr. Wahab Gbadamosi, the FIRS management is grateful to the Police for their support.
Fowler said, “Let me put on record that the Nigeria Police Force has been extremely helpful to FIRS. Without the Police, I doubt that the Service would have been able to achieve what we have achieved. 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 FIRS.
“This is significant given that 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. Oil component of the N5.320 trillion is N2.467 trillion (46.38 per cent), while non-oil element of the collection is N2.852 trillion (53.62 per cent).”
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