FCT-IRS collects N262 billion in taxes from Abuja residents in 2024 

The Federal Capital Territory Inside Income Service (FCT-IRS) introduced that it collected N262 billion in Internally Generated Income (IGR) in 2024.

Moreover, the service revealed that it collected N43.8 billion in taxes in January 2025.

Appearing Government Chairman of FCT-IRS, Michael Ango, disclosed this info on Thursday in the course of the service’s annual sensitization marketing campaign aimed toward mobilizing FCT residents for voluntary tax compliance.

Ango defined that by the top of December, the FCT-IRS had collected a complete of N262 billion, which represents a N12 billion enhance from the N250 billion goal for 2024.

Whereas the efficiency was spectacular, the chief chairman expressed confidence that 2025 could be even higher, noting that the service had commenced the 12 months very strongly.

“In January, we collected N43.8 billion, and to this point in February, we’re additionally on observe. The fact in regards to the assortment is that these monies should not manufactured; they’re paid by taxpayers and residents of this city,” Ango stated.

The taxes 

He recognized among the taxes collected by the FCT-IRS, together with private earnings tax, capital features taxes, stamp duties, property taxes, leisure tax, and charges because of the FCT.

Ango emphasised that the FCT-IRS works for your complete FCT, explaining that it collects income for the FCT Administration, space councils, FCT Secretariats, departments, and companies. He added that the service collaborates intently with all sister companies, each on the federal and FCT ranges.

“We’ve been reaching out to numerous companies, and what we hope to do is to create a income ecosystem whereby everyone believes that they’re companions and stakeholders in elevating revenues for the FCT,” Ango stated.

What it’s best to know 

• The FCT-IRS had beforehand mandated non-public firms, Ministries, Departments and Companies (MDAs), and all different employers of labor within the FCT to file their worker annual tax returns for 2024 earlier than the deadline of January 31, 2025.
• Ango acknowledged that this ordinance was in compliance with Part 81 of the Private Revenue Tax Act (PITA) 2011 (as amended) and the PAYE Rules, which mandate all employers of labor within the FCT to file annual returns of all emoluments paid to their workers and the overall taxes, no later than January 31 of every 12 months for the previous 12 months.
• The returns are to be filed utilizing prescribed kinds supplied by the FCT-IRS. Ango had earlier described the submitting of the worker annual returns as a compulsory provision of the legislation, including that failure to conform will entice penalties and different sanctions.

He urged all non-public organizations, MDAs, government-owned enterprises, and even sole proprietorships who’re employers of labor within the FCT to adjust to their tax obligations to keep away from sanctions, noting that one of the best type of compliance is voluntary compliance.