An internally developed online application, TAXPro-Max that was recently deployed by the Federal Inland Revenue Service, FIRS, has fetched the agency N664 billion in a single month in revenue.
The Executive Chairman of the FIRS, Muhammad Nami revealed this at the 17th General Assembly and 10th Anniversary of the West African Tax Administration Forum (WATAF), on Tuesday, September 21, 2021, at the Transcorp Hilton Congress Hall, Abuja.
The theme was: “The Taxation of the Digital Economy: Exploring Untapped Revenue Sources In Africa.”
Oriental News Nigeria reports that the FIRS in June launched the integrated tax administration system dubbed TaxPro-Max, which it described the technology as a home-grown solution developed by staff of the FIRS.
He explained that the TaxPro-Max was designed to bring efficiency in the tax system and increased tax collection rates, and that its deployment was responsible for the realization of N664bn as revenue generated in June his year.
Nami said, “This cost saving, effective solution that was developed in-house by staff of the FIRS, is a user-friendly technological platform which is accessible by tax officers and taxpayers alike, for most tax operations.
“Following the deployment of the TaxPro-Max in June 2021, the Service generated over N664 billion representing the highest revenue generated by the FIRS in a single month since the outbreak of COVID-19.
“We believe that with the simplification of tax remittances through the deployment of TaxPro-Max and the resultant efficiency, the Service is geared towards recording increased collection rates, which will further enhance government revenue and improve transparency in tax administration.”
The revenue agency explained at the WATAF that among other features, the platform enables seamless registration, filing, payment of taxes and automatic credit of withholding tax as well as other credits to the Taxpayer’s account.
“TaxPro-Max also provides a single-view to Taxpayers for all transactions with the Service. It was fully deployed nationwide, effective 7th June 2021 as the channel for filing Naira-denominated tax returns,” FIRS added in a statement.