{"id":46793,"date":"2021-08-20T09:18:26","date_gmt":"2021-08-20T09:18:26","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=46793"},"modified":"2021-08-20T09:29:39","modified_gmt":"2021-08-20T09:29:39","slug":"firs-target-n5trn-as-tax-from-digital-platforms","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=46793","title":{"rendered":"FIRS target N5trn as tax from digital platforms"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"300\" height=\"168\" src=\"http:\/\/watchdogplusmedia.com\/wp-content\/uploads\/2021\/08\/firs.jpg\" alt=\"\" class=\"wp-image-46798\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"576\" src=\"http:\/\/watchdogplusmedia.com\/wp-content\/uploads\/2021\/08\/FIRS-2-1024x576.jpg\" alt=\"\" class=\"wp-image-46799\"\/><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><\/blockquote>\n\n\n\n<p>The Executive&nbsp;Chairman of the Federal Inland Revenue Service (FIRS), Mohammed Nami, has said that the impending registration of Twitter and other social media platforms in the country is expected to boost the agency\u2019s projected revenue for 2022 by about N5 trillion.<\/p>\n\n\n\n<p>Nami stated this when he appeared before the House of Representatives\u2019 Committee on Finance in Abuja.<\/p>\n\n\n\n<p>He said that FIRS has set a revenue target of N10.1 trillion for 2022, noting that the projected revenue&nbsp; for 2022 is about N5 trillion above that of 2021 because of the expected registration of social media platforms.<\/p>\n\n\n\n<p>He stated: \u201cThe total collection that we are trying to generate and remit to the appropriate accounts, including the federation account in 2022, is N10.1 trillion.<\/p>\n\n\n\n<p>\u201cTwitter and others are already registering with us, so we are aware. So we expect that the impact of those registrations would be felt positively by FIRS and that is why the targets are going up.\u201d<\/p>\n\n\n\n<p>On the 2020 budget performance, Nami said FIRS collected a total of N4.950 trillion against targeted revenue of N5.076.<\/p>\n\n\n\n<p>\u201cThe service achieved a total revenue collection of N4.950 trillion against budgeted N5.076 trillion representing 98 percent.&nbsp; Out of the total collection, non-oil and oil components contributed N3.435 trillion and N1.515 trillion respectively.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"739\" height=\"415\" src=\"https:\/\/watchdogplusmedia.com\/wp-content\/uploads\/2021\/08\/img_2800.jpg\" alt=\"\" class=\"wp-image-46805\"\/><\/figure>\n\n\n\n<p>\u201cConsequently, the cost of collection (4% net of 2% Nigerian Customs Service VAT) of N130.45 billion was achieved against the budget of N180.76 billion to fund the three operational expenditure heads for the year,\u201d he said.<\/p>\n\n\n\n<p>Reviewing the 2021 budget performance, Nami noted that FIRS had achieved 43 percent of the projected revenue as of June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Executive&nbsp;Chairman of the Federal Inland Revenue Service (FIRS), Mohammed Nami, has said that the impending registration of Twitter and other social media platforms in the country is expected to boost the agency\u2019s projected revenue for 2022 by about N5 trillion. Nami stated this when he appeared before the House of Representatives\u2019 Committee on Finance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FIRS target N5trn as tax from digital platforms &raquo; WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=46793\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=46793#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Uncategorized\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=1\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"FIRS target N5trn as tax from digital platforms\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FIRS target N5trn as tax from digital platforms &raquo; WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=46793","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=46793#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Uncategorized","item":"https:\/\/watchdogplusmedia.com\/?cat=1"},{"@type":"ListItem","position":3,"name":"FIRS target N5trn as tax from digital platforms"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=1\" rel=\"category\">Uncategorized<\/a>","rttpg_excerpt":"The Executive&nbsp;Chairman of the Federal Inland Revenue Service (FIRS), Mohammed Nami, has said that the impending registration of Twitter and other social media platforms in the country is expected to boost the agency\u2019s projected revenue for 2022 by about N5 trillion. Nami stated this when he appeared before the House of Representatives\u2019 Committee on Finance&hellip;","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/46793"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46793"}],"version-history":[{"count":-3,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/46793\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}