By Daniel Tyokua
The Federal Capital Territory Internal Revenue Service (FCT-IRS) said it has risen the taxpayer base to 1, 108, 162 million in 2023.
Acting Executive Chairman of the Service, Mr Haruna Abdullahi disclosed this during end of year media briefing in Abuja on Wednesday.
He said in 2015, the taxpayer base was about 543,969 for individuals and 284,746 for non-individual to 1.1m for individuals and 389,981 for non-individuals in the last eleven months and half.
Abdullahi revealed that the result was achieved in collaboration with other sister agencies in the Federal Capital Territory.
He stated that the Service had also commenced enforcement of section 85 of the Personal Income Tax Act, 2011 (as amended) and section 31 of the FCT-IRS Act, 2015 for MDAs, FCT SDAs, commercial banks, and other corporate bodies to demand and verify TCC, as precondition for rendering services in the territory.
On revenue generation, Abdullahi said it generated over N203.1 billion in the year 2023, an increase over the N124 billion it realized in 2022.
He said; “The Tax Revenue Collection of the FCT-IRS grew from barely N46 billion in 2017 to over N124 billion in 2022 indicating over 270% growth. At this point, I would like to inform the general public that as at 19th December 2023, the FCT-IRS for the first time since its inception in 2015 has exceeded the N200 billion mark by generating the sum of N203,147,090,410.5 as annual revenue for the year 2023. This is a huge milestone for the Service and it represents about 63.34% increase in collection from the preceding year.
“For the year 2024, FCT-IRS has a target of N250 billion (Two-hundred and Fifty Billion Naira), we are determined and optimistic that we will realize and surpass that, with the committed and dedicated staff of the Service, support from the FCT Administration, the National Assembly and other key stakeholders especially our esteemed taxpayers, it is achievable and the task ahead is surmountable”
“In collaboration with other sister agencies in the FCT, the FCT-IRS has commenced enforcement of Section 85 of the Personal Income Tax Act, 2011 (as amended) and Section 31 of the FCT IRS Act, 2015 for MDAs, FCT SDAs, Commercial Banks, and other Corporate bodies to demand and verify TCC as precondition for rendering services in FCT”, he stated.
According to him, the Service has invested in modern working tools such as hardware and software, adding that the processes of registration, payment, receipting, assessment, Tax Clearance Certificate (TCC) issuance, filing of returns, TCC verification, and generation of withholding tax credit note have all been automated.
