The Federal Inland Revenue Service (FIRS) hopes to exceed it’s 2021 performance next year by nearly 30 percent.
FIRS chairman, Muhammad Nami, says the tax collection projected for 2022 financial year is N10.1 trillion against the N7.6 trillion of 2021.
Nami stated this when he appeared before the House of Representatives Committee on Finance on Wednesday, in Abuja, at a public hearing by the committee on the 2022-2024 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP.
He said that the N10.1 trillion was the global figure projected to be generated and remitted to the Federal Government in 2022 by the FIRS, the agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government.
He also commended the previous effort of the FIRS at ensuring that their revenue generation targets were met, while urging the service to strive to do more in its revenue generation mandate.
The lawmaker had earlier described the MTEF and FSP, with a three year plan, as a major feature of the annual budget preparation cycle, saying that it provided the basic estimates and assumptions for the annual budget.