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Inspite Of Economic Downturn, Lagos Rakes In 24 Billion Naira In A Month by nickxtra(m): 5:32pm On Mar 08, 2016 |
Despite economic crunch, the Lagos Internal
Revenue Service, LIRS, raked N24.5 billion into
the state government’s coffer in just one month
as part of Internally Generated Revenue, IGR.
This is coming as the Lagos State Government
vowed that the era of tax evasion in the state
was over, stressing that, government has put
machinery in place to aggressively enforce the tax
law in order to shore up revenue.
Commissioner for Finance, Mustapha Akinkunmi
disclosed at a news conference organised by the
LIRS in Alausa, Ikeja, Lagos, Southwest Nigeria
on Tuesday, that in January, 2016, the LIRS
contributed N24.5 billion in revenue to the coffer
of the state government.
Akinkunmi said the current government is issuing
policies aimed at aligning the economy with these
goals, which would set the state on a path to
growth and stability as evidenced by the major
developments implemented by LIRS.
According to the commissioner, the N24.5 billion
revenue generation by LIRS in January amounted
to 98 percent budget performance for that month
and recording 12 percent growth from the same
period in 2014.
He added that despite the harsher economic
terrain presented in 2015, the state managed to
realize increased revenue, off the back of
collections from taxpaying members of the public,
adding that in 2015, the LIRS had contributed 79
percent to IGR in 2015.
“This equated to 56 percent of the state’s total
revenue, including Federal Transfers. The total
revenue achieved in 2015 was just short of N400
billion and is expected to continue growing, driven
by strong tax collection.
“This administration has been able to make
significant investment in security apparatus
across the state and has provided street-lighting
across the state. We are reducing costs through
investment in technology which is a powerful tool
for cost reduction through efficient
administration,” he said.
State’s Attorney General and Commissioner for
Justice, Adeniji Kazeem warned that the era of
people evading tax in Lagos was gradually
coming to an end as government would expand
the tax net to cover lots of the working
population.
Kazeem vowed that government would now begin
aggressive enforcement of the tax law and go
after tax evaders and ensure that they were
prosecuted and sent to jail.
He stated that the state government would set up
a Rapid Tax Prosecution Unit to partner the LIRS
to prosecute tax offenders in court, adding that
“tax dodger, watch out, we will get you.” 1 Like |
Re: Inspite Of Economic Downturn, Lagos Rakes In 24 Billion Naira In A Month by Rudboy360(m): 5:33pm On Mar 08, 2016 |
Amen 1 Like |
Re: Inspite Of Economic Downturn, Lagos Rakes In 24 Billion Naira In A Month by Khd95(m): 5:48pm On Mar 08, 2016 |
Gej's effort |
Re: Inspite Of Economic Downturn, Lagos Rakes In 24 Billion Naira In A Month by nedu2000(m): 5:55pm On Mar 08, 2016 |
Shows how insensitive the lagos state govt are to its people!still collecting the same tariff,fines and levies despite the economic crunch.pathetic! |
(1) (Reply)
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