The Oyo State Governor, Engr. Seyi Makinde has called on heads of government ministries, departments and agencies, tertiary institutions as well as private sector to ensure adequate deduction and prompt remittance of taxes and other levies due to the state.
Engr. Makinde made the call while declaring open, a One-Day Workshop on Tax Computations, Deductions and Remittances organized by the Oyo State Internal Revenue Service (OYSIRS) in collaboration with OASES consulting held at the House of Chief, Secretariat Ibadan during the week.
The governor, while restating the commitment of his administration not to over burden business enterprises irrespective of size with taxes, disclosed that he will not condone the habit of taking undue advantage of government from MDAs and tertiary institutions in their dealings with public or private sectors.
Engr. Makinde established that in order to fulfill his electioneering campaign promises to the people of the state in the areas of provision of infrastructure, social amenities and regular payment of government obligations, there is need for collaboration to ensure adequate deduction and prompt remittance of taxes and other levies due to the state.
He maintained that the fluctuation of oil price at international market has contributed to lower revenue from the federal allocation, hence the need to look inwards to generate enough internal revenue to cater for the much needed societal demands.
While commending the Oyo State Internal Revenue Service for the initiative to increase the state’s Internally Generated Revenue (IGR), confirmed that the level of Pay As You Earn (PAYE) compliance by the companies and businesses owners will determine their contractual relationship with the Oyo State government.
“This workshop, among other things, is to sensitize your institution on the need to pay up on tax deductions; calculate and deduct the right taxes ranging from PAYE to Withholding Tax to Personal Assessment. Correct remittance to the relevant tax authorities within the stipulated time as specified by the provisions of the law has become inevitable and compulsory.
“Another aspect of our tax program which is quite dear to the heart of this government is PAYE compliance before any contractual relationship with OYS. We count on companies and other businesses to ensure they regularly deduct and remit their employees PAYE tax to the covers of our treasury. This will ensure a mutual reciprocation of rights and duties on the part of all parties,” Governor Makinde said.
In his welcome address, the executive Chairman, Oyo State Internal Revenue Service (OYSIRS), Aremo John Adeleke, said that the workshop is one of the interventions of the OYSIRS to maximize revenue for the state government.
While stating the mission of the Service, Adeleke noted that the focus is to generate revenue from taxes non-taxes and other statutory sources as well as monitor revenue collections by ministries, departments and agencies (MDAs) of government.
He said that the Service is working to ensure improvement in the taxpayer’s database through continuous enumeration exercise of taxpayers, enforcement and systematic drive and introduction of new revenue sources.
Adeleke appealed to professional bodies, tax practitioners, consultants, taxpayers as well as agents and other relevant stakeholders to cooperate with OYSIRS to be able to achieve its objectives. He also urged all MDAs, federal and state and tertiary institutions to patronize only individuals and companies with a record of regular and up to date remittance of their employees’ PAYE.
Managing Director, Oases consulting, Femi Adeniji stated that the workshop program is to sensitize ministries, department and agencies as well as corporate bodies in the state about their responsibilities as regarding taxes due to government.
He noted that since the present government is not interested in increasing taxes, therefore, there is need to sensitize the relevant stakeholders and put measures in place to ensure that the state is no more shortchanged.
Packaged by Kunle Gazali
