Ogun State Internal Revenue Service has announced that it has generated the sum of N17.936bn between January and June this year, representing over 47% performance, which is a positive variance for the corresponding period of the agency’s performance in the last three years.
The Executive Chairman of the State IRS, Mr. Olugbenga Olaleye, disclosed this before the members of the State House of Assembly Committee on Finance and Appropriation led by Hon. Kunle Sobunkanla during the ongoing budget performance appraisal at the Assembly Complex, Oke- Mosan, Abeokuta.
Olaleye recalled that the revenue performance reflected a positive variance of N2.83bn compared to the N15.11 billion generated in year 2020 and N2.86bn in 2019 despite the adverse effects of COVID-19 on the global economies.
Giving the breakdown of the revenue performance, he disclosed the revenue was received through personal tax, stamp duty, road taxes, withholding tax, tax investigations, consumption tax and development levies amongst other sources.
The Chairman, who revealed that efforts were in top gear for the Agency to commence Tax Audit to further boost its revenue generation efforts to the tune of N9.4bn, added that there was introduction of technology-driven policies to ease tax compliance.
According to Olaleye, the tax audit set out to raise tax assessment on tax payers, improve tax compliance check on tax payers, while achieving holistic tax reviews and investigation.
Responding, the Chairman, Assembly Committee on Finance and Appropriation, Sobunkanla in company of Honourables Ganiyu Oyedeji, Damilola Soneye and Abdul Bashir Oladunjoye lauded the agency’s performance in improving the State’s revenue, assuring of more legislative support towards accomplishing its target.
The Lawmakers also appraised the budget performances of the State Ministry of Budget and Planning as presented by the Permanent Secretary, Mrs Funmilayo Dada and that of the Finance Ministry as reeled out by its Permanent Secretary, Hassan Adekunle.
Packaged by Hazeez Ayansola
