FIRS Targets 4.9trn Naira Internal Revenue for 2016

The Federal Inland Revenue Service (FIRS) has set a target for the Commission. It has chosen to focus on generating 4.9 trillion naira as the revenue at the end of 2016. Mr Babatunde Fowler, the Executive Chairman of FIRS made the disclosure, noting that the development was to ensure a successful implementation of the 2016 Budget. Mr Fowler maintained that they are projecting a 90% budget implementation success, and in this projection, the FIRS would achieve at least 70% delivery per quarter or forfeit their performance bonuses through the year. He said the Commission would add 500,000 taxable corporate accounts to their grid before the end of March with an additional five million by December 2016.