The Ogun State Internal Revenue Service (OGIRS), on Tuesday, disclosed that it has generated over N11 billion
naira to the purse of the government of the state, from January to March 2022.
This represented 83. 86 per cent of N14.076 bn is expected for the period under review.
This was disclosed by the chairman of the agency, Mr Olugbenga Olaleye, who was represented by a board member and Special Adviser to the Governor on Corporate Development and Legal Services, Hon. Biodun Adeleye, while presenting the agency’s 2022 budget performance for the first quarter.
Olaleye explained that the total amount generated was 129 per cent higher than N9.143bn raked in for the same period as of March 2021, noting that the figure excluded N4.7billion expected from tax audit for the period under review.
The IRS boss adjudged the performance as the best in the last three years despite the COVID-19 challenges and downturn in the global economy.
He stated that plans had been intensified to shore up revenue through the replacement of 17 per cent average Personal Income Tax (PIT), with a flat rate or 0.5 per cent on corporate land transaction value to encourage ease of doing business and attraction more potential investors.
He gave a breakdown of the revenue generated to include Personal and withholding taxes, stamp duty, road taxes and direct assessment amongst others.
The lawmakers also appraised the budget performance of the State Ministry of Budget and Planning, Bureaux of Public Procurements and Statistics.
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Ogun IRS generates over N11bn in three months
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