The Federal Inland Revenue Service (FIRS) has raked in N2.529 trillion from various taxes from January to June 2018.
The amount shows that the Service had realized 75% of its total target for the year, which is an improvement over what was realized at the corresponding period in 2017. A report on the revenue performance by the Agency, submitted to the Minister of Finance, Mrs. Kemi Adeosun, confirmed that the N2.529 trillion has an increase of N746,107 billion, representing 42%, when compared to the N1.783 billion total tax revenue realized in the corresponding period in 2017. The Special Adviser to the Minister of Finance, Mr. Oluyinka Akintude disclosed this in a statement, yester-day. An analysis of the total amount shows that N1.168 trillion was collected as Petroleum Profit Tax (PPT) as against N636.170 billion resulting in a variance of N532.456 billion.


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