The Federal Inland Revenue Service (FIRS) has said it is targeting N4.5 trillion in 2016.
FIRS acting executive chairman, Babatunde Fowler, made the revelation on Tuesday during his screening by the Senate Committee on Finance.
Fowler, a former chairman, Lagos Inland Revenue Service, also hinted that the revenue from the country’s Value Added Tax (VAT) would be increased from N500 million to N2.5 trillion next year.
According to him, the proposed N8 trillion budget for 2016 was realisable, saying, “The Vice President was not aware of this projection before disclosing the proposed N8 trillion budget but the budget is durable.
“If the oil can generate N1 trillion, the Customs can generate N4.5 trillion, so the budget of N8 trillion is quite durable.”
Today.ng
That's some serious taxing in 2016.
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