The Federal Inland Revenue Service, on Sunday, said it had surpassed its revenue target for the 2012 fiscal period, with total tax collection of N3.81tn as at the end of September.

The Service, in a statement issued by its Director, Communications and Liaison Department, Mr. Emmanuel Obeta, said the N3.81tn that was collected between January and September this year, represented an increase of N2.21bn over its N3.6tn target for 2012.

The total collection also represented an increase of N890bn, when compared to the N2.91tn figure recorded within the same period in 2011

Of the total amount collected, oil taxes amounted to N2.399tn, while non- oil sources accounted for N1.406tn.

A breakdown of the collection from January to September showed that N2.027bn was realised in January, N2.691bn in February, N3.133bn in March, N2.721bn in April and N3.044bn in May.

The tax figure recorded in June was N2.221bn, July N3.055bn, August N2.463bn, while September had N1.947bn of the tax revenue.

It said, “Remarkably, FIRS has taken steps to bring more potential tax payers into the tax net through the establishment of Satellite Tax Offices across FCT major markets in 2012.

“However, there is the need for more collaboration and partnership among relevant stakeholders within the territory in order to actualise the determination of the Service to expand the revenue base of the country.

“Part of FIRS’ effort is to improve taxpayers’ education and services, processes and procedures as well as bring tax administration closer to taxpayers in order to enhance voluntary tax compliance.”

via Punch