By Joyce Remi-Babayeju
The Federal Capital Internal Revenue Service, FCT-IRS, acting Executive Chairman, Mr. Haruna Abdullahi has disclosed that in the period of January to June 2024, it has remitted N126.54 billion.
Abdullahi who was represented by Director Tax Operations, Mrs. Chinwe Anohu- Ndu disclosed on Monday at the FCT-IRS mid-year press briefing in Abuja.
According to Abudullahi explained that the figure was 53.5 percent higher than the N82.46 billion collected in the first half of 2023.
He stated that the N126.54 billion was 119.7 percent higher than the N57.59 billion collected in the half year of 2022, adding that it is an indication of a year-on-year growth.
“This stellar growth highlights our commitment and determination to overcome obstacles while striving to boost revenue generation.”
“This indicates that the FCT-IRS achieved these impressive results within six months despite economic challenges.”
Abudullahi also attributed the successes to the service’s resolve to leverage technology and build one of the most functional e-service portals in the revenue sector.
“We also owe this accomplishment to the high compliance rate of taxpayers in the FCT.”
“We, therefore, urged everyone to continue choosing voluntary compliance over compulsion,” he said.
Speaking on enforcement, the executive chairman said that the revenue service has commenced an enforcement drive to tackle tax evasion and ensure the collection and accounting of all revenue acruable to the FCT.
He informed that non-compliant businesses have been sealed, and appropriate legal actions taken to recover all tax liabilities and ensure timely payment of subsequent taxes.
Abdullahi said that FCT-IRS was investing in technological advancements for seamless revenue collection in the FCT.
“We are currently optimizing and upgrading our technology to improve tax compliance, reduce costs, and enhance efficiency.”
“This will enable us to build a more resilient tax system that will enhance revenue generation while making the tax paying process seamless for our taxpayers,” he said.
He said that FCT-IRS plays a critical role in stabilizing the economy during economic challenges by generating revenue for the government to fund essential public services.
“Key expectations include maximizing tax collection to increase government revenue and ensuring efficient tax administration by streamlining tax processes, reducing bureaucracy, and combating tax evasion and fraud while educating and enlightening taxpayers.”
“The service is also committed to aligning with Federal Government tax policy reforms aimed at stimulating economic growth.”
“The service is also dedicated to engaging with taxpayers, businesses, and other stakeholders to understand their challenges to continuously develop solutions that will enhance tax compliance and eliminate tax evasion,” he added.
Abudullahi commended the FCT Minister, Barr. Wike for his exemplary leadership, support, and commitment to boosting revenue generation in the FCT.
Meanwhile, the FCT-IRS lead said that the service was working tirelessly to surpass the N500 billion 2024 revenue target, by remaining focused and sustaining the momentum.
“We encourage all taxpayers in the FCT to prioritize tax compliance, which is a crucial aspect of development and nation-building.”
“By fulfilling your tax obligations, you contribute directly to the growth and prosperity of the FCT and the nation at large,” he stressed.
