Home Naijamerit News FIRS nets N650bn in June

FIRS nets N650bn in June

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From Uche Usim, Abuja

The Federal Inland Revenue Service on Wednesday, said it recorded a historic feat by raking in N650 billion in June, the highest in a month amid the COVID-19 pandemic.

FIRS Executive Chairman, Mr Muhammad Nami, who disclosed this in a statement to the media in Abuja, said the feat was the reward for efficiency and effectiveness of the TaxProMax Solution that was recently deployed, notwithstanding the challenges and resistance faced in the early stages of its adoption, and the downturn orchestrated by slow economic recovery.

Nami recalled that as part of its efforts at digitising tax administration in the country, the FIRS recently introduced the Tax Administration Solution (TaxProMax) for ease of tax compliance. He had noted that the Solution “enables seamless registration, filing, payment of taxes and automatic credit of withholding tax as well as other credits to the Taxpayer’s accounts, among other features. It also provides a single-view to Taxpayers for all transactions with the Service.” The TaxProMax platform, which took off on 7th June 2021, is a channel for filing Naira-denominated tax returns in the country. The TaxProMax platform is accessible at www.taxpromax.firs.gov.ng.

He reminded taxpayers of the one-off one-month extension granted earlier this month for the filing of Company Income Tax returns by taxpayers with December 31, 2020 accounting year-end whose statutory tax returns were due not later than June 30, 2021. He urged them to take advantage of the extension as it “provides an opportunity to all taxpayers whose company Income Tax returns were due in June 2021 to file up to the July 31, 2021”, he said.

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Source: Nigerian Newspapers Online

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