FIRS generates N1.2 trillion tax revenue in second-quarter of 2020

FIRS Chairman discussing on tax matter and Nigeria Tax revenue

Nigeria generated N1.2 trillion tax revenue in the second quarter of 2020, marginally lower than the N1.27 trillion quarterly target. Data from the Federal Inland Revenue Service (FIRS) have shown. The figure also indicated a decrease when compared to the N1.4 trillion tax collections in the second quarter of 2019. These figures contained in the Q2 performance report published by the service. Details of the collection showed that the petroleum profit taxes generated N440 billion, a huge increase when compared to the N71 billion target. The non-oil taxes, however, did not meet…

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