Ogun Govt. Projects N7bn Monthly Revenue From PAYE Taxes, Holds 2021 Budget Treasury Board Meeting On Monday,Tuesday - EDU-BIZNEWS


Thursday, November 19, 2020

Ogun Govt. Projects N7bn Monthly Revenue From PAYE Taxes, Holds 2021 Budget Treasury Board Meeting On Monday,Tuesday

Ogun State Internal Revenue Service (OGIRS), is projecting N7biillion as its  Internally Generated Revenue (IGR) from Pay As You Earned (PAYE) taxes. 

Also the State Government has fixed Monday and Tuesday next week for holding of  its Treasury Board meeting, to consider the year 2021 Advance proposals and Draft Estimates of Ministries, Departments, and Agencies (MDAs).

 Governor Dapo Abiodun according to a statement  by the Permanent Secretary, Ministry of Budget and Planning, Mrs. Olufunmilayo Dada, will be presiding over the meeting slated for  the Obas Complex, Ministry of Local Government and Chieftancy Affairs, Oke-Mosan, Abeokuta, at 9.00 am.

The state revenue agency is presently generating N2.8billion monthly from PAYE, which its newly inaugurated board expressed readiness to raise the bar to N7biillion  monthly.

The Executive Chairman of OGIRS, Mr. Anthony Olaleye made this known at a maiden meeting of the newly inaugurated Board members of OGIRS, at his office in Abeokuta, the state capital.

Olaleye tasked all board members to give priority to driving the State‘s IGR higher than the present revenue generation by ensuring integrity in the revenue drive  

He expressed with confidence  that the revenue target is achievable by putting the right technology that would capture more taxable adults into the State’s Tax net.

“We have people residing in this State working with companies in other border States and country like Oyo, Osun, Ondo, Lagos and Republic of Benin, taxes of these people are for Ogun State, when the residency rule is strictly adhered to and monitored",Olaleye stated.

Also, with the ‘Pay As you Earn’ ( PAYE), many do not know what they ought to pay. Do we monitor what they get monthly, do we have the right database of expatriates working in the State? All these are leakages that must be blocked”, he said.

The Chairman assured that when all these leakages are blocked with the set of professionals in the board to carry out Tax audit, the State IGR would surpass expectation.

Olaleye  enjoined Board members to think outside the box, to justify their appointment and add significant value to the State.

Responding, one of the Board members, Hon. Bode Fakunle pledged the members’ readiness to run with the vision of the agency, by putting in their best to ensure Ogun takes its place of pride among comity of States.



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