With the gradual ease in the economy from the covid-19 pandemic ravaging the globe, the Kwara State Internal Revenue Service (KW-IRS) says it posted a total IGR of N26.9 billion (N26,961,014,485.76) for the year 2021.
This was contained in a statement signed on the 29th January 2022.
In a statement by the executive chairman of the revenue agency, Shade Omoniyi, in Ilorin at the weekend, the total IGR generated for the year 2021, represents 95.61 per cent achievement of its annual budgetary target of N28,199,910,200.00.
“The feat is the highest target hit since the agency was founded in 2016,” she said.
A quarterly breakdown of the IGR generated for the year is as presented below:
Quarter Revenue Generated (N)
Q1 9, 616,070,933.17
Q2 6,491,694,948.90
Q3 5,688,630,716.32
Q4 5,164,617,887.37
TOTAL N26, 961,014,485.76
The Executive Chairman, KW-IRS, Shade Omoniyi noted that the year 2021 started on a good note, with an IGR collection of N9.6Billion, in the first quarter, the highest in the history of Kwara State Internal Revenue Service since its establishment without the introduction of new taxes and or any extraordinary item.
It added that revenue collection across the board dipped in quarters 2, 3, and 4 of 2021, owing to challenges associated with general apathy in the adoption of some newly introduced revenue collection processes, non-remittance, as well as seasonal collections.
The statement however noted that year 2021 had a remarkable revenue achievement of N26, 961,014,485.76, an improvement of 37.34% over the total IGR of N19.638Billion generated in the year 2020.
“This achievement is attributable to the gradual recovery of the economy after the pandemic, continuous consolidation, and digitization of all revenue lines of the state, both of which are helping to reduce revenue loss, leakages, and diversion of revenues accruable to the state government.
“For KW-IRS, the focus in the year 2022 is: Consolidation of the Digitization Process, which aims at achieving taxpayers’ convenience, as some of our major structural improvements include the Self-Service Portal where taxpayers could perform basic tasks in the comfort of their locations such as Request for Kwara Residence Identification Number (KRIN), Make all forms of revenue payment, Remittance of PAYE, etc.”
The statement further assured that as the year 2022 progresses, KW-IRS would continue to establish more profitable partnerships and effective work relationships with all stakeholders for smooth revenue administration and strategic development of the state.
The KW-IRS boss charged all business owners in the state to register their businesses with the KW-IRS, ensure tax returns are done within the time allowable by law, declare all sources of income for appropriate assessment, and pay all that is due on income as a tax within the stipulated time.
Omoniyi also urged all staff, stakeholders, taxpayers, and partners to stay safe always and abide by all Covid-19 safety protocols.
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