Senate passes FIRS N147 bn 2017 budget

Senate passes FIRS N147 bn 2017 budget

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The Senate just passed the 2017 budget of the Federal Inland Revenue Service (FIRS) of N147 billion.

Following the presentation of the report of the Senate Committee on Finance, chaired by Sen. John Enoh on Tuesday in Abuja.

While presenting the report, the chairman noted that the overhead cost was N46. billion, while capital expenditure was N31 billion.

He said that the FIRS was funded by four per cent cost of non-oil revenue collection which is appropriated by the National Assembly as stipulated in the FIRS Act, 2007.

“The service projected to collect N4.89 trillion from oil and non-oil revenue for the year 2017.”

For the 2016 budget performance of the agency, the chairman said FIRS collected N3.3 trillion in 2016 as against a total approved collectable tax of N4.08 trillion.

The President of the Senate, Dr Bukola Saraki then passed the budget after much deliberations by the law makers.

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