Executive Chairman of the Ogun State Internal Revenue Service, Mr.Olugbenga Olaleye has expressed confidence of achieving the revenue target of N100,806,281,135.38 for the 2024 fiscal year
Olaleye gave the assurance on Friday during the defence of the agency's 2024 budget proposal of N3.43billion including capital vote of N436.94million and recurrent expenditure of N3billion before the State House of Assembly Finance and Appropriation Committee
He listed the items for the projected revenue to include N52,538,952,920.76 from personal income tax/pay-as-you-earn , N6,128,528, 511.66 (Direct Assessments Business), N3,124,535,881.53 (Withholding Taxes), N1,448,593,666.32( Stamp Duty), N895,431,065.65(Pools Betting and Casino Licence) while N177,926,415.21 is being expected from Development Levy in the coming fiscal year
Olaleye identified other items of revenue target to include, N2,792,362,468.87 (Road Taxes), N32,706,397,935.70 (Tax Investigation) , N137,713,574.02 (Motor Vehicle Licence) expected as revenue from renewal of motor vehicles and motorcycle licence , change of ownership and road worthiness while N855,838,695.66 is projected as revenue from other registrations
I strongly believe that the revenue target of N100.8billion is achievable with support of citizenry of the state", he assured
The OGIRS boss added that the agency was able to reduce revenue leakages with digitalization process of its operations
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