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Reps order FIRS to refund N4.6bn to FCT revenue agency

The House of Representatives Committee on Public Accounts yesterday directed the Federal Inland Revenue Service to refund N4.6bn to the FCT Internal Revenue Service. The…

The House of Representatives Committee on Public Accounts yesterday directed the Federal Inland Revenue Service to refund N4.6bn to the FCT Internal Revenue Service.

The chairman of the committee which investigated the activities of the FCT revenue agency over the years, Wole Oke, said the money was the two percent over-deduction by the FIRS from the N117bn tax revenue realized by the FCT-IRS between 2015 and 2019.

Responding, FIRS Chairman Mr. Babatunde Fowler explained that the service took two percent of total tax collected as cost of collection rendered to FCT-IRS.

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