Federal Inland Revenue Service (FIRS) yesterday said it generated N1.45 trillion as revenue from tax in the second quarter of 2014.
According to FIRS’ report on its operation during the period, which was obtained by our correspondent in Abuja, the revenue was realized from oil and non-oil taxes.
The report said that N639.26 billion representing 43.93 per cent of the collected revenue was generated from Petroleum Profit Tax (PPT) while N815.9 billion or 56.07 per cent was collected from non-oil taxes.
The breakdown of the collection from non-oil taxes showed that N556.3 billion was realised from company income tax, N197.25 billion from Value Added Tax (VAT) and N38.06 billion from Education Development Tax (EDT).
It also indicated that collection from consolidated account during the period was N12.03 billion, N7.6 billion from technology development fund and N2.5 billion from gas income.
Stamp duty, the report revealed, accounted for N1.86 billion of the revenue while N290.4 million was realized from capital gain tax during the period.
It stated that N312.49 billion was collected in April, N569.21 billion in May and N573.45 billion in June.
Tax revenue collected by the service during the period showed an increase of 15.54 per cent from about N1.05 trillion realized in the first quarter.