The Senate on Tuesday passed the 2017 budget of the Federal Inland Revenue Service (FIRS) of N147 billion.
This followed the presentation of the report of the Senate Committee on Finance in Abuja.
While presenting the report, the Chairman of the Committee, John Enoh, said the overhead cost was N46 billion, while capital expenditure was N31 billion.
He said the FIRS was funded by four per cent cost of non-oil revenue collection which is appropriated by the National Assembly as stipulated in the FIRS Act, 2007.
“The Service projected to collect N4.89trillion from oil and non-oil revenue for the year 2017,” he said.
For the agency budget performance in 2016, Enoh said FIRS collected N3.3trillion in 2016 as against the approved collectable tax of N4.08trillion.
The president of the Senate, Bukola Saraki, later passed the budget after deliberations by the law makers.