FIRS Nets N650 Billion In June

The Federal Inland Revenue Service (FIRS) generated N650 billion
in June 2021.

Executive Chairman of FIRS, Mr Muhammad Nami, described it in an
early morning statement, today, as the highest revenue realized in
a single month since the COVID-19 pandemic started.

Mr Nami said, “this feat was achieved as a result of the
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”.

He recalled that as part of its efforts at modernizing tax
administration in the country, the FIRS recently introduced the Tax
Administration Solution (TaxProMax) for ease of tax compliance.

According to him, the solution “enables seamless registration,
filing, payment of taxes and automatic credit of withholding tax as
well as other credits to the Taxpayer’s accounts, among other
features. It also provides a single-view to Taxpayers for all
transactions with the Service.”

The TaxProMax platform, which took off on 7th June 2021, is a
channel for filing Naira-denominated tax returns in the
country.

Mr Nami reminded taxpayers of the one-off, one-month extension
granted earlier this month for the filing of Company Income Tax
returns by taxpayers with December 31, 2020 accounting year-end
whose statutory tax returns were due not later than 30th June
2021.

He urged them to take advantage of the extension to file up to
the 31st of July 2021.

The Federal Inland Revenue Service (FIRS) generated N650 billion
in June 2021.

Executive Chairman of FIRS, Mr Muhammad Nami, described it in an
early morning statement, today, as the highest revenue realized in
a single month since the COVID-19 pandemic started.

Mr Nami said, “this feat was achieved as a result of the
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”.

He recalled that as part of its efforts at modernizing tax
administration in the country, the FIRS recently introduced the Tax
Administration Solution (TaxProMax) for ease of tax compliance.

According to him, the solution “enables seamless registration,
filing, payment of taxes and automatic credit of withholding tax as
well as other credits to the Taxpayer’s accounts, among other
features. It also provides a single-view to Taxpayers for all
transactions with the Service.”

The TaxProMax platform, which took off on 7th June 2021, is a
channel for filing Naira-denominated tax returns in the
country.

Mr Nami reminded taxpayers of the one-off, one-month extension
granted earlier this month for the filing of Company Income Tax
returns by taxpayers with December 31, 2020 accounting year-end
whose statutory tax returns were due not later than 30th June
2021.

He urged them to take advantage of the extension to file up to
the 31st of July 2021.