Abuja - The Federal Government has given the Federal Inland Revenue Service
(FIRS) a N4.21 trillion revenue target for 2014.
The Acting Executive Chairman of the Service, Alhaji Kabir Mashi, stated
this on Monday in Abuja at the 2014 Corporate Plan Retreat and Enlarged Management
Meeting of the Service.
He said that the Service was expected to collect N1.79 trillion from
Petroleum Profit Tax (PPT), N1.03 trillion from Companies Income Tax (CIT) and
N96 billion from gas component of CIT.
Other sources, he said, include N861 billion from Value Added Tax (VAT),
N10.21 billion from Capital Gains Tax, and N8.46 billion from Stamp Duties.
Mashi said the Service was also expected to collect N156 billion, N59
billion and N10.6 billion from Education Tax, Personal Income Tax and
Technology Levy, respectively during the period.
He said that FIRS surpassed its 2013 revenue target by N337 billion or 7.56
percent, adding that it collected N4.805 trillion as against the targeted
He, however, stated that the actual collection from non-oil revenue in 2013
fell short of government’s target of N2.188 trillion by three percent, but
assured that it would be improved on in 2014.
“One proactive step that has been taken in respect of growing non-oil
revenue tax is the take-off of the Capacity Enhancement Programme (CEP) towards
delivering additional non-oil revenue in the current year.
“We have every intention of sustaining and hopefully improving upon the
standards that the service has come to be known with in terms of delivering
results in recent time,’’ he said.
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