Ogun Internal Revenue Agency Rakes In Over N29.7bn In10 Months,Targets N56.3bn In 2022 - EDU-BIZNEWS


Thursday, December 23, 2021

Ogun Internal Revenue Agency Rakes In Over N29.7bn In10 Months,Targets N56.3bn In 2022

Ogun State Internal Revenue Service has revealed that it  generated a total sum of N29.75billion between January and October, 2021, even as the agency projected  N56.30billion as revenue for the next fiscal year. 

The Executive Chairman of the Board, Mr. Olugbenga Olaleye who made this known on Thursday while defending the 2022 budget proposal of the agency before the State lawmakers at the Assembly Complex, Oke-Mosan, Abeokuta, also disclosed that accounts of 6,500 companies are currently being audited, to further boost revenue drive of the state

Olaleye listed sources of the revenue to include personal income tax, pools betting/casino license, capital gain tax, road tax, withholding taxes, tax investigation and direct assessment amongst others. 

The Chairman also proposed a total budget expenditure of N2.184bn, out of which N349.9m was earmarked for various capital projects, while the remaining N1.834bn would cater for salaries and allowances of the workforce. 

He explained that the Agency was working round the clock to ensure digitization of tax payment with a view to further block all revenue leakages in the period under review. 

In a related development, the Clerk of the House and Head of Legislative Service, Deji Adeyemo, has reassured that the Ninth Legislature would continue to make laws and pass relevant motions into resolutions especially on policies and programmes meant to advance the overall socio-economic development of the State.

Adeyemo, who took turn to defend the 2022 budget estimate of the Assembly, added that the institution was poised to carry out oversight functions on Ministries, Departments and Agencies of Government towards ensuring that government business was conducted according to laid down rules and regulations. 

The lawmakers also considered the budget estimates of State Ministry of Finance, the Office of the Accountant General, House of Assembly Service Commission and the Ministry of Budget and Planning amongst others.

No comments:

Post a Comment