Federal Inland Revenue Service (FIRS) says about 45 million
Nigerians will be captured as taxpayers before December 2019.
Mr Fowler, Chairman, Joint Tax Board (JTB), said this on
Thursday in Ilorin at the flag-off of the new Tax Identification
Number (TIN) registration system and consolidated National
Taxpayers’ Database for North Central zone.
“Over the last four years, the economic policies of the current
administration have focused on establishing a stable foundation for
socio-economic growth and development.
“With the astute leadership of Mr President, the milestones
achieved bears ample testimony on the impact that has been made,
not only in tax-revenue administration, but in the environment of
doing business in Nigeria,” he said.
Fowler listed the accomplishments to include expansion of tax
base from 10 million to 20 million taxpayers with the potential for
an increase of up to 45 million before year end.
Fowler, who is also FIRS Chairman, said Internally Generated
Revenue (IGR) collection at the sub-national level grew
exponentially by 46.11 per cent from N800.02 billion in 2016 to
N1.16 trillion in 2018.
He also said FIRS tax collections grew by 53.9 per cent from
N3.3 trillion in 2016 to N5.32 trillion being the highest
collection ever in the history of FIRS.
Fowler added that N2.85 trillion was collected as Non- Oil
Revenue which accounted for 54 per cent of total revenue
collection.
The JTB chairman said the federal government paid a total of
N135.8 billion as outstanding PAYE tax liabilities owed by Federal
MDAs to states from 2002 to 2016 with a total of N31.08 billion
paid to the states in the North Central.
“We are confident that this gesture by the federal government
will encourage State Governments to also reciprocate and promptly
remit all withholding Taxes and VAT due to the Federation
Account.
“A positive movement during the same period is Nigeria moving up
25 points in Tax Administration Section of World Bank ‘Ease of
Doing Business’.
“This positive progression is also reinforced by the recent
listing of Nigeria as one of the ‘top 20 reformers in Doing
Business for the year 2020 by the World Bank.
“We expect that more positive country reports will be released
by the time the full report by the World Bank is released on Oct.
24, 2019,” Fowler said.
He said the new TIN Registration System would improve on the
efficiency and output of the entire tax administration process.
“It is also meant to provide enhanced convenience to the
taxpayers as well as the tax administrators while guaranteeing that
each taxpayer’s details are readily available to them at their
fingertips at all times and anywhere,” Fowler added.
According to him, the new system possesses the capability to
integrate data from all relevant agencies by leveraging on already
captured data.
He added that the new system will also reduce the burden of
taxpayer information management and cost of collection.
“The new system maintains the identification of an individual
taxpayer via assigning of a unique and universal TIN.
“Unlike the old system, it is now possible for taxpayer to view,
retrieve or update his or her tax profile from anywhere 24/7,”
Fowler said. (NAN)