The Federal Inland Revenue Service, FIRS has said it is set to increase government’s revenue via taxation by 20% before the end of the 2018 financial period.
According to a communiqué issued after a recent meeting of the Joint Tax Board, in a bid to increase governments revenue, the FIRS said it had started introducing some initiatives.
In the communiqué revenue authorities nationwide were advised to ensure that all efforts are made to increase the national tax revenue to the Gross Domestic Product ratio to at least 20 percent by December 31, 2018.
Also, state tax revenue authorities were also asked to explore all non-Personal Income Tax sources.
Speaking on this, Executive Chairman, FIRS, Tunde Fowler said their administration has the responsibility to provide the nation with adequate funds with which to fund its development objectives.