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Wednesday, March 22, 2023

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The Chairman of the Federal Inland Revenue Service (FIRS), Muhammed Nami, has disclosed that the Bill which will include the use of electronic means to collect taxes from road users to enhance revenue drive will be sent to the National Assembly for consideration and passage.

He explained that the sum of N10.104 trillion revenue is expected to be realized in the 2022 fiscal year, with the formal capturing of Facebook, Twitter and other social media platforms into the country’s tax net.

The FIRS boss who was speaking during the interactive session on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)

He said, “On the issue of a digital economy, the FIRS has a department called International Tax Department which is handling such cases.

“Twitter and others are already registering with us. That is why in our revenue projections, we are raising it from N5 trillion in 2021 to N10 trillion in 2022. We expect the impact of those registrations to take effect.”

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