FCT-IRS Generates ₦252.8 BN In 2024

By: Wisdom Acka

The Acting Chairman, Federal Capital Territory Internal Revenue Service (FCT-IRS), Michael Ango, has disclosed that the Service realized the sum ₦252,825,484,775.71 billion this year.

Accordingly, this sum is representing 19.8 percent increment, as against last year’s ₦211,100,288,136.36 billion.

The Acting Chairman made this disclosure during end of year media briefing in his office in Area 3, Garki I District, Abuja.

His words: “The Service was able to realize ₦252,825,484,775.71 billion this year, representing 19.8 percent increment, as against last year’s ₦211,100,288,136.36 billion.”

Ango also disclosed that the FCT-IRS has concluded arrangements to commence collection of entertainment tax, which would be charged on goods and services consumed in hotels, night clubs, lounges, parks, restaurants and event centres, among others.

He revealed that there was commendable tax compliance from high network individuals, who are persons with income of twenty five million naira and above; adding that the organization would embark on aggressive tax activities next year.

He said that the FCT-IRS was not overburdening the public with the introduction of new taxes, but was simply implementing taxes that were already there in the extant laws to enhance infrastructural provision and service delivery.

Ango stressed: “The Minister of FCT, Ezenwo Nyesom Wike, has engaged in massive infrastructural development, including administrative remodeling by creating offices that were not in existence, as well as the implementation of the minimum wage; all these require revenue.”

He, therefore, enjoined the individual and corporate residents of the Federal Capital Territory to cooperate with the FCT Internal Revenue Service to meet up with its targets, which is the overall interest of the Territory.