Just within a month of commencing the substitution of accounts initiative of Billionaires who have not been paying their commensurate taxes, the FIRS has announced the recovery of N12.66 in tax revenue from these Billionaire Defaulters.
Mr Tunde Fowler, the Executive Chairman of the FIRS, stated this on Friday while receiving the new Minister of Finance, Hajia Zainab Ahmed, during her visit to the Revenue House in Abuja.
Fowler told the Minister that the initiative had recovered about N12.66bn for the revenue house.
He was quoted saying: “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.”
Image Credit: Daily Trust
