Business

KWIRS generates N14.372bn in 5 months

 

By Matthew Denis

The Kwara State Internal Revenue Service (KWIRS) has generated the sum of N14.372 billion as Internally Generated Revenue (IGR) for the state.
The revenue agency revealed this in a series of tweets via its official twitter handle (@KwaraIRS) at the weekend.
According to the breakdown of the revenue figures, KWIRS generated N2.149bn in January, N1.762bn in February, N2.385bn in March and N1.152bn for April.
The agency raked in the sum of N6.926 bn in the month of May, giving a total of N14.374bn for the five months in review.
Providing clarification on the high increase in the May IGR collection, the revenue agency said that the month’s N6.926billion revenue is inclusive of the N5billion tax refund the state recently received from the Federal Government.
“In the month of May 2019, Kwara State was one of the beneficiaries of the payment of outstanding liabilities by the Federal Government. This was a huge boost for Kwara IGR collection for the month,” KWIRS tweeted.
The revenue agency commended the Federal Government and the Federal Ministry of Finance (FMOF) over the tax refund to states, noting that the government had shown leadership by example.
“While commending the FG and the Federal Ministry of Finance (FMOF) for the bold step and leadership by example, we enjoin all others who have outstanding liabilities to settle them promptly.”
KW-IRS also disclosed that Kwara was in May identified as one of the 21 states that met the eligibility criteria for the World Bank’s State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS) 2018.
“This feat takes Kwara and other qualifying States closer to accessing a $750 million performance grant which would boost State finances.”

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