Business

Exclusive: KWIRS rakes N14.7bn in 8 months

 

With Matthew Denis

Kwara State Internal Revenue Service (KWIRS) has generated a total sum of N14.7 billion between January to August 2017.

The Chairman of the Revenue House, Dr. Muritala Awodun made the revelation during an  interview with Pilot Business on Tuesday.

Speaking on behalf of the chairman, Director of Informal Sector, Mr. Olusegun Olaniyi said, “We had a budget of N37 billion, which was reviewed down to N34 billion for the 2017.

“We set out strategies with the plan to achieve that but you know the economic situation. So far we haven’t been able to achieve that in equal instalment, but as at August ending, we have raked in N14.7 billion.

He stated the resolve of the agency to realise the balance before end of the year, saying “We are not taking chances as we are going ahead, focused and also reviewing our positions on daily basis and with God on our side we’ll do more than what we did in previous year.”

On the tax holiday granted by the state government to new companies, he added that ” It is a perogative of the state government. We initiated it. There are criteria to meet for Small and Medium Enterprises to benefit from it.

“It is not a blanket approval for anybody who is in small business enterprise not to pay taxes. The criteria for companies to meet are there and those things are being worked out clearly and we are going to pass it to the governor and when he approves, it will be enforced.

One of them is there must be a minimum of five people in your employment from whom will attract payee and the level of your compliance in paying your tax would also be considered.

“There are criteria just like we have in the Voluntary Asset Income Declaration Scheme (VAIDS) laid down rules for tax amnesty,” he explained.

According to him, the revenue agency is also working assiduously to review the community impact programmes for effective performance to tax payers in the state.

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