VAT controversy: FIRS may lose N2.4tn revenue to states

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Sunday Aborisade


The Federal Inland Revenue Service may lose over N2.4tn revenue to the 36 state governments in 2022 if it loses its appeal against a Federal High Court verdict which barred it from collecting the Value Added Tax and Personal Income Tax.


The N2.4tn is what the FIRS projects to collect from the VAT if retains the authority to collect consumption based tax, a document available to our correspondent has shown.


The FHC sitting in Port Harcourt, the Rivers State capital, had on August 10 ruled that states and not the FIRS have the legal rights to collect VAT and income tax.


The FIRS has appealed the judgement.


Meanwhile, the governments of Lagos and Rivers states have expressed their readiness to begin the collection of Value Added Tax in accordance with the judgment.


These are in spite of the opposition by the FIRS, which already filed an appeal against the judgment. Some northern states say they prefer the Federal Government to continue collecting the tax.


The Joint Senate Committees working on the 2022 – 2024 Medium Term Expenditure and Fiscal Strategy, on Friday expressed concerns over the development but the Chairman of the FIRS, Muhammad Nami, allayed the fears of the joint panels.


The Chairman of the Senate Committee on Finance who chaired the joint MTEF panels, Senator Solomon Adeola, specifically asked Nami while he didn’t speak on the court judgment and the revenue generating agency boss replied that the case had been appealed.


Nami said, “I did not deliberately mention the issue because doing so would be subjudice since it is already pending before the Court of Appeal.”


The FIRS boss however proceeded to present his agency’s revenue projection for 2022, 2023 and 2024 fiscal years.


A document, he submitted to the joint panels which was exclusively obtained by our correspondent indicated that the agency projected to raise N2.44tn from both import and non-import VAT in 2022.


The breakdown shows that the agency is targeting N1.83tn from non-import VAT and N610.45bn from the Nigerian Customs Service import VAT.

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