FCT-IRS Generates Over ₦126b In Six Months

By: Wisdom Acka

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has collected and remitted the sum of N126.54 billion from January to June 2024 into the coffers of the Federal Capital Territory Administration (FCTA).

The Acting Executive Chairman, FCT-IRS, Haruna Abdullahi, made this disclosure during the Service’s mid-year Press Briefing in Abuja, Monday.

The Chairman, who was represented at the occasion by the Director of Tax Operations, Mrs. Chinwe Anohu-Ndu, stated that the figure was 53.5 per cent higher than the N82.46 billion collected in the first half of last year.

Abdullahi also disclosed that the N126.54 billion was 119.7 per cent higher than the N57.59 billion collected in the half year of 2022.

His words: “This stellar growth highlights our commitment and determination to overcome obstacles, while striving to boost revenue generation.”

“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.

The Chairman stated that the Service has commenced enforcement drive to tackle tax evasion and ensure collection and accounting of all revenue accruable to the FCT.

According to him, non-compliant businesses have been sealed, and appropriate legal actions taken to recover all tax liabilities and timely payment of subsequent taxes.

“We are currently optimising 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 added.

The Chairman commended the FCT Minister, Nyesom Wike, for his exemplary leadership, support and commitment to boosting revenue generation in the FCT.