Tax revenue now a major source of revenue for Nigeria

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February 8, 2017 6:37 PM

There is need for the country to look inward to ensure that required taxes were being paid as at when due.

Mr Tunde Fowler, the Chairman, Federal Inland Revenue Service (FIRS) says tax revenue is now a major source of revenue for Nigeria.

Fowler made this known when a delegation of the South-East, South-South Professionals of Nigeria (SESSP) led by its President, Mr Denzil Kentebe paid him a courtesy call in his office on Wednesday in Abuja.

“Government will not relay on oil again even if it bounces back."

“For the country’s sustainability, tax revenue is a now major source,’’ Fowler said.

According to him, FIRS, Customs and FRSC are working together to serve the Nigerian populace better in the area of effective collection of tax.

He called on the association to help the service advocate the importance of tax payment.

Fowler said that there was need for the country to look inward to ensure that required taxes were being paid as at when due.

“FIRS is trying to generate enough revenue for Nigeria and this can be possible if all are paying the required amount of tax,’’ he said.

Responding, the President of SESSP pledged to be an ambassador of FIRS in advocating for tax payment in the regions.

Kentebe said that the association comprises all levels of professionalism who shared ideas on the tax regime in the country.

He assured that the association would help to create awareness in spreading the message of payment of tax.

“There is need for all Nigerians to pay their taxes because it is the only thing that can improve the economy."

“If the economy will be good, tax must be paid."

“We will encourage our people to pay their taxes so that development will come to South-South."

“However, we will like to ask for tax incentive, if people can see the benefit of paying tax for five to 10 years, they will be encouraged to pay,’’ Kentebe said.

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