FIRS to generate N4.5trn revenue in 2016 –Fowler

Senate probes AIPB’s failure to publish accident reports

The Federal Inland Revenue Service (FIRS) has said that it was targeting to rake in the sum of N4.5tr in 2016 in a bid to raise the country’s revenue profile. T his was disclosed yesterday by the Acting Executive Chairman of the Service, Babatunde William Fowler while appearing before the Senate Committee on Finance at the National Assembly complex.

Speaking during his screening by the Senate Committee, he said the revenue from the country’s Value Added Tax (VAT) would be increased from N500m to N2.5tr next year. He also said the proposed N8trillion budget for 2016 was realisable, saying “the Vice President was not aware of this projection before disclosing the proposed N8trillion budget. “If oil can generate N1trillion, the Customs and us can generate N4.5trillion. So, the budget of N8trillion is quite durable. “Our projection of N4.5trillion does not include an increase in VAT.

This is because we are of view that tax should be fair, “ he said. Warns against repeat of NIS tragedy in proposed recruitment of 10,000 policemen Meanwhile, the Senate yesterday resolved to investigate the reasons behind the non-publication of reports on air crashes that occurred in the country by the Accident Investigation and Prevention Bureau, AIPB.

The upper legislative chamber, through a motion, entitled, “the need to publish accident investigation reports”, by Senator Theodore Orji (PDP Abia Central), stressed the need to carry out holistic investigation into the non-publication of air accident investigation reports by the AIPB.

While describing the tradition as counter-productive and in contradiction with best practices, the parliament mandated its Committee on Aviation to thoroughly investigate the remote and immediate causes of the trend and report its findings to the Senate within two weeks. Orji, in his lead debate, recalled the Bellview, Sosoliso, ADC and Dana air crashes between 2005 and 2012, lamenting that till date, nothing had been heard about findings of AIPB on the crashes.