The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami has expressed confidence that the Service will perform better this year than last year, 2021 when it raked in N6 trillion in tax collection.
He said that with several strategic measures that have been put in place, the Service was able to record an unprecedented collection of over N6 trillion in 2021, “and has set its sight on higher performance this year.”
Nami, who handed over Tax Credit Certificate to the Nigeria Liquefied Natural Gas Limited (NLNG) for the construction of the Bonny – Bodo Road in Rivers State, is confidence that the Service can achieve its targets with the contribution of taxpayers like the NLNG.
He listed such strategic measures to include energising FIRS consultations and regular engagements with stakeholders.
“We are building a customer centric and data centric organisation while also restructuring the administrative framework and processes of the Service; we are driving towards full automation of core tax operations.
“You may recall that the FIRS started with the development and deployment of an in-house digital solution – The Taxpromax Solution. This solution allows taxpayers to sit in the comfort of their offices or homes to file returns, pay taxes and conduct all forms of tax processes with us.
“At the heart of our customer-centric reforms is the setting up of a multi-lingual Call Centre for enquiries and report from taxpayers.
“I wish to assure you that the Service is ever ready to attend to any issue that will enable you and taxpayers like you to comply with statutory tax obligations.”
Receiving the certificate, the Company’s Deputy Managing Director, Olalekan Ogunleye, who represented the CEO NLNG, Philip Mshelbila said that the company is a major contributor to the country’s economic development and is working towards building a better Nigeria.
He acknowledged FIRS as being at the forefront of economic resuscitation and progress the country, adding: “I also want to put on record our appreciation for the expedited issuance of the tax credit certificate.
“As you know, this tax credit is in relation to the Bonny-Bodo road which is itself a landmark project and a pilot scheme in this initiative.
“This would be the first time the Island of Bonny will be linked by road to the rest of the country. And this is very significant to the development and advancement of the country because it will open new opportunities for economic activity.”
The Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, also referred to as the Road Infrastructure Tax Credit Scheme, is a public-private partnership scheme signed by President Muhammadu Buhari under Executive Order 007 in January 2019.
It will enable the Federal Government to leverage private sector capital and efficiency for construction, refurbishment and maintenance of critical road infrastructure in the country.
Under the Scheme, participants are entitled to tax credits against their future Companies Income Tax to the tune of the project cost incurred in the construction or refurbishment of eligible roads.
So far, NNPC, MTN, Transcorp Group, Access Bank, GZI industries, among others are some of the entities participating in the Road Infrastructure Tax Credit Scheme of Executive Order 007.
