The Federal Inland Revenue Service says it is projecting to generate N5.9 trillion in 2021.
The Chairman FIRS Mr. Muhammad Nami made this projection while defending the agency’s 2021 budget before the House of Representatives Committee on Finance in Abuja.
According to him, the 2021 budget is tailored towards repositioning the service for effective tax collection for all tiers of government.
The Chairman who noted that strategies had been mapped out to enable electronic tax collection in line with COVID-19 protocols, said the FIRS will also deepen synergy with its state counterparts to generate more revenue for the country.
He said “the 2021 budget was tailored to reposition the Service for a more effective tax collection for all tiers of government.
“Strategies had been put in place to enable electric tax collection so as to enhance compliance with the COVID-19 safety protocol of social distancing.
“The FIRS would also deepen synergy with its state counterparts to generate more revenue for the country” he added.
Earlier, the Chairman of the Committee, Mr. James Faleke said the National Assembly would ensure that all revenue raised shall be paid into and form part of the Consolidated Revenue Fund of the Federation in line with Section 80 of the constitution.
“In response to the above, the FIRS, as a responsible and law-abiding agency, has therefore submitted the 2021 Revenue Estimates and Expenditure to this august committee for legislative scrutiny and consideration.
“On our part as a committee, we have the Constitutional mandate under Section 62(2) of the Constitution to discharge the onerous task of consideration and presentation to the plenary session” Mr. Faleke added.
Emmanuel Ukoh
