Daily Trust

FIRS generates N650bn in June, highest during COVID-19

- By Faruk Shuaibu

The Federal Inland Revenue Service (FIRS) generated N650 billion revenue in June 2021, being the highest on a monthly basis since the onset of COVID-19 pandemic.

The Director, Communicat­ions and Liaison Department, FIRS, Abdullahi Ahmad, in a statement yesterday said the amount was the highest revenue realised in a single month since the advent of COVID-19 pandemic and assumption of office of the current management.

Ahmad quoted the Executive Chairman FIRS, Muhammad Nami, as saying that the feat was achieved through efficiency and effectiven­ess of the TaxProMax Solution, “notwithsta­nding the challenges and resistance faced in the early stages of its adoption, and the downturn orchestrat­ed by slow economic recovery.”

Nami recalled that the new drive to modernize tax administra­tion in the country, led to the introducti­on of the Tax Administra­tion Solution (TaxProMax) to ease tax compliance.

He reminded taxpayers of the one-off one-month extension granted earlier this month for the filing of company income tax returns by taxpayers with Dec. 31, 2020 accounting year-end whose statutory tax returns were due not later than June 30.

He urged taxpayers to take advantage of the extension as it provided an opportunit­y to all taxpayers whose company income tax returns were due in June to file up to July 31.

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