The lawmakers said the budget for the fiscal year must terminate by December 31.
Federal Inland Revenue Service The approval was made after the Senate considered the report of its committee on finance, presented by the chairman, Solomon Olamilekan .
In his presentation, Mr Adeola narrated the budget performance of the FIRS and gave a summary of the 2020 proposed budget.operates below the line account used for tax refund and support for the construction of the head office.” “The committee also frowned at the unnecessary delay in submitting the budget for 2020. However, the current executive chairman explained that they took over the leadership of FIRS in November/December and the budget for 2020 was not ready as at then. And Covid-19 was also responsible for the delay.”*N1.56 trillion was projected for Oil revenue;*N11.
*N168.80 Net projected four per cent Cost of Collection available rose FIRS to be appropriated by NASS; andThe Senate, thereafter, called for the digitisation of all processes in the administration of tax in FIRS, so as to bring the service up-to-speed with rapidly increasing online economic activities.
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