The Acting
Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Sunday S.
Ogungbesan has said that the agency is mitigating drop in oil revenue with its
Integrated Tax Administration System (ITAS).
He
revealed this to ITRealms at a media roundtable in Lagos, last weekend, saying that FIRS is
implementing various initiatives aimed at mitigating the drop in government
revenue occasioned by fall in global oil prices.
These initiatives, Ogungbesan said, have been
structured along the broad areas of automation, process improvement and
capacity building.
As such, he said, the initiatives include
automation of the system through the introduction of the Integrated Tax
Administration System (ITAS).
“ITAS automates core tax administration
processes and enables online interface between FIRS and taxpayers,” he said.
According to him, automation of taxpayer
registration resulted in issuance of Tax Identification Number (TIN) to about
1,189,722 corporate and individual taxpayers as at July, 2015.
On the Value Added Tax (VAT) collection
system, the acting chairman told ITRealms that the automation system faciliates
tracking and remittance of Value Added Tax from key sectors.
E-tax payment platform, he said, is online
electronic system of tax payment, which enables online payment and monitoring
in real-time.
Ogungbesan also said that the electronic
filing (E-filing) system now in place allows electronic filing of tax returns
and accompanying documentations.
FIRS, he said, therefore seeks collaboration
with the Office of the Accountant General of the Federation to ensure source
deduction and remittance of taxes from government contracts and of employees
emoluments through the Government Integrated Financial Management Information
System (GIFMIS) and Intergrated Personnel & Payroll Information System
(IPPIS).
In addition, he said the automation paves the
way for the statutory reporting process from banks to FIRS.
+Remmy Nweke (ITRealms) @FIRS
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