" ITREALMS: FIRS focuses on improving automated revenue collection

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Sunday, August 09, 2015

FIRS focuses on improving automated revenue collection

The Federal Inland Revenue Service (FIRS) has said its focus is on how to improve structures by automating core functions that support tax revenue collection in the country, reports DigitalSENSE Business News.

Acting Executive Chairman, Federal Inland Revenue Service, Mr. Sunday S. Ogungbesan made this known to DigitalSENSE Business News at a media roundtable in Lagos.

He also said that FIRS is focused on improving structures, strengthening processes in this regard, just as the agency has over the years implemented various initiatives to ensure taxation replaces oil as major revenue source for government.

Current management of FIRS, Ogungbesan said is also requires support of government at all levels and partner all stakeholders to enable the agency drive the reforms that will provide needed revenue to government from taxation

Equally, Ogungbesan highlighted the fact that FIRS mandate emanated from its Establishment Act of 2007 with the broad mandate to assess, collect and account for all taxes accruable to the Federation.

FIRS, he said, has a group structure for efficient management of  its activities and currently has five groups, namely domestic taxes, compliance, enforcement, support services and modernization groups respectively.

Ogungbesan pointed out that FIRS mandate is implemented on a tripod of tax policy, legislation and administration.

“The successful interaction of the three is essential to the success of the FIRS and effective administration of its mandate, which is to meet and surpass Government tax revenue targets,” he said.

On reform, Mr. Ogungbesan told DigitalSENSE Business News that FIRS is implementing various initiatives aimed at mitigating the drop in government revenue occasioned by fall in global oil prices.

These initiatives, he said, are structured along the broad areas of automation, process improvement and capacity building.

+Remmy Nweke (ITRealms)  

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