Ogun Internal Revenue Service Projects N75billion As PAYE Taxes - EDU-BIZNEWS


Tuesday, December 22, 2020

Ogun Internal Revenue Service Projects N75billion As PAYE Taxes

Ogun State Internal Revenue Service (OGIRS) has projected N75billion as its revenue from personal income taxes for the 2021 fiscal year.

The revenue  agency is also proposing N600million for its capital projects including automation of its operations  and N750million recurrent expenditure to enhance operations in the coming year.

Chairman of the agency, Mr.Anthony Olaleye who disclosed these on Tuesday in Abeokuta while defending its 2021 budget estimate before the State House of Assembly, said that only N25.5billion was realized as at last October out of the expected N58.6billion for the same period in the outgoing financial year.

He explained that the revenue target was achievable with the proposed automation system as against the manual process of revenue collection.

The OGIRS Chairman who took over three months ago from erswhile boss of the revenue agency, Adekunle Adeosun ,added that  electronic data  management of files in the agency, would block the leakages in the collection of taxes and capture more residents into tax net of the agency.

The agency according to him, focuses on Pay As You Earned (PAYE) tax  of every resident of the state and not in charge of any form of levies or charges as widely believe in some quarters. 

Olaleye  revealed that OGIRS would increase its 34 tax stations to 37 in addition to the existing six zonal offices as well as acquire more vehicles for more effective tax collection in 2021.

He added that the revenue agency would be working closely with the State Bureau Of Information and Technology to build the IT infrastructure for actualization of its automated system. 

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