TETFUND TO GENERATE N500 BILLION FROM EDUCATION TAX COLLECTION IN 2021
The Tertiary Education Fund, TETFUND, has said its target is to generate N500 billion from the Education Tax collection from companies in 2021.
This was as TETFUND tasked the Federal Inland Revenue Service, FIRS, to improve its collection strategy to surpass the earlier target of N277 billion set for 2020.
The body disclosed this in Port Harcourt at the Tertiary Education Trust Fund, 2020 TetFund/FIRS Interactive Forum with stakeholders in the South-South Zone, tagged ‘New Thrust in Sustaining the EDT Collection during Covid-19 Pandemic for Effective Service Delivery of the Mandate of the Fund’.
Speaking, the Chairman of Board of Trustees, Tertiary Education Trust Fund, Alhaji Kashim Ibrahim Imam, stated that TETFUND’s target in 2020 was to generate N277 billion, but expressed optimism that the said target may be achieved despite challenges posed by the COVID-19 pandemic.
He revealed that the same target of N277 billion has been set for 2021, but charged the FIRS to ensure that the target was surpassed by more than 10% increase.