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Tax revenue is currently the leading source of income for Nigeria, as stated by the AGF |
Madein noted that the significant income derived from taxation has the members of the federation account allocation committee (FAAC) looking forward to the Federal Inland Revenue Service's (FIRS) monthly reports, which are vital for the allocation of funds across the government's three levels.
During the 26th annual tax conference in Abuja, themed 'Sustainable Tax Culture and Economic Roadmap for Nation Building,' the Accountant General of the Federation, Oluwatoyin Madein, made this known. The event was hosted by the Chartered Institute of Taxation of Nigeria (CITN).
Madein noted that the significant income derived from taxation has the members of the federation account allocation committee (FAAC) looking forward to the Federal Inland Revenue Service's (FIRS) monthly reports, which are vital for the allocation of funds across the government's three levels.
The office of the accountant-general is dedicated to fostering a lasting tax culture that guarantees a steady and enhanced revenue stream, she added.
"Currently, tax revenue is the primary source of funds for the federation. Hence, during the federation account allocation committee meetings, we are keen to see the figures from the FIRS, as their increasing performance provides relief to every level of government," she explained.
