By JULIUS ASEMOTA
If proof was needed on the effectiveness of the reforms being implemented in the country’s tax/ revenue collection and administration system by the Federal Inland Revenue Service (FIRS), it was provided by the Service’s 2018 Half Year (HY) Revenue Performance Report, which showed an improvement of about 42 per cent over that of the same period in 2017 and indicated that the Service had already realized 75 per cent of its target for 2018.
Total revenue generated from various taxes between January and July this year amounted to N2.997 trillion, an increase of N885.96billion over what was collected for the corresponding period in 2017.
Analysis of the total amount showed that between January and June 2018, a total of N1.16 trillion was collected as Petroleum Profit Tax (PPT) as against the N636.1 billion collected in the corresponding period of…
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