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FIRS targets N5 trillion VAT revenue amid EU concerns over tax evasion in Nigeria

ABUJA – The Federal Inland Revenue Service (FIRS) has laid out an ambitious road map, projecting a leap in revenue collection from Value Added Tax (VAT) to five trillion naira shortly. The goal was set against the backdrop of concerns raised by the European Union about the prevalent issue of tax evasion in Nigeria, which they attribute to the opacity of the tax administration process. Matthew Osanekwu, Head of...