Osun Hits N2bn IGR In Two Months

Government of the State of Osun has expressed optimism that it would conveniently hit N2 billion as Internally Generated Revenue (IGR) in the next two months.

The Acting Chairman, Osun Internal Revenue Service (OIRS), Mr Dayo Oyebanji, who stated this in an interview with OSUN DEFENDER on Tuesday, said, the target in the next few months would be N5 billion per month.

He said, by the time the state government hits its target of N5 billion target, it would be easier to finance its programmes and policies with IGR without any fund from the federation account.

He said the agency has put a platform in place for immediate and sustainable revenue generation in the state that would enable government meets its target. “When you put a platform in place, you will notice there is steady growth in number and value in the revenue base of the state.

“In the last few months, we have seen steady growth in number of tax payers, which ultimately will translate to significant increase in value.

“Within the next two months, we should comfortably be on N2billion. The target of the government is N5 billion per month and that is the only time the government can say, we don’t need Abuja to survive.

“When Governor Aregbesola came into office, the state was generating about N300 million monthly,

inclusive of the state PAYE, that means, effective inflow from other sources at that time was barely around N100million.

“With the system that we have put in place, like the Revenue Administration Law, the blockage of leakages, the automation of revenue collection that now makes all revenue go to the coffers of the government, the revenue first moved to N600 million and at a time when there was oil boom, it moved to N1.5 billion.

“Therefore, because of the economic situation in terms of average, we are operating between N800

million and N1 billion now. Our focus is to hit not less than N5 billion in the next few months. So, we have the structures in place that we can work on to generate more revenue to the coffer of the state.

“For us in Osun, for informal sector, the minimum tax payable is N1,000 and development levy is N500, that means you pay N1,500 per annum.

“For you to collect tax certificate, you must have paid taxes for three solid years, plus current year, which is N6,000. It is not compulsory that you pay at once, you can do staggered payment and when you complete the payment of N6,000, we will issue tax clearance certificate, but as you pay, you collect your receipts,” Oyebanji said.

The OIRS boss, who described taxation as the peak of representation in government, said when this principle is there, it reduces corruption to the barest level, saying, “that is when you will see that the growth in taxation will be a proposal to the growth in the economy.”

According to him, now that the external money from federation account was no longer coming, it is the responsibility of the people to support government to sustain its developmental programmes and policies.

He also urged institutions that have been running away from paying their dues to the government to be up and doing, saying, the state government would not derive pleasure in shutting down private investors for failure to fulfill their civic responsibilities.

On what he called misconception that pupils of public schools were being asked to pay taxes outside the ones being paid by the parents, he said no pupil was asked to pay any tax.

According to him, parents of the pupils were the ones expected to provide copies of their tax clearance certificates and give to their children to confirm that they have exercised their civic responsibilities.

“Students are not to pay or present their tax clearance certificate; it is only the tax clearance certificates of their parents that the schools would have asked for and that is what is operational in every society,” he emphasised.

Osun Registers Artisans, Shop Owners, Others To Boost IGR

Osun State government has charged all shop owners and operators in the state to register their business premises and pay their taxes regularly in order to boost its Internally Generated Revenue (IGR).

Shop owners, market men and women and artisans are to register with the Ministry of Commerce, Industry, Cooperatives and Empowerment and everyone would be billed according to size of their premises. Defaulters, according to the Osun Acting Chairman and Chief Executive Officer (CEO) of Internal Revenue Service, Mr. Dayo Oyebanji, would be made to face the full wrath of the law.

This, he said, would in no small measure assist in waging war against the dwindling allocation from the federation account to states. He, however, disclosed that the agency has “embarked on mass campaign rally to convince residents of the state on the need to pay for their business premises and other taxes.”

Oyebanji continued: “The exercise of the revenue agency, would not amount to multiple taxation as there are laws to back every money collected from people of the state. “Aside from generating revenue into government’s purse, business registration would also enable government to have adequate planning data which would enhance development in all parts of the state”.

“The government will as well work towards improving the level of voluntary compliance of people on tax payment for immediate and sustainable growth of the revenue base of the state”.

Also, Coordinating Director in the Ministry of Commerce, Industry, Cooperatives and Empowerment, Reverend Abimbola Osho said the move would complement developmental programmes embarked upon by the state government towards making life more comfortable for the people.

New Telegraph

Osun Seals Globacom Over Unpaid Taxes

The State of Osun Internal Revenue Service (OIRS) on Wednesday, 17th February, 2016, sealed up Globacom Limited in the State of Osun for not effecting the payment of outstanding, TAXES AND OTHER LEVIES  in respect of mast/ base station and laying of fibre optics, which had become due and payable to Osun State Government arising from back- Duty-Investigation-Exercise.

This was made known by the Acting Chairman/Chief Executive Officer, Osun Internal Revenue Service, Mr. Dayo Oyebanji today after the exercise. He said, the action aims at giving a bite to the company’s non-compliance to ensure remittance of all the outstanding due to the State. The distrain action is in line with the provision of Section 104 of the personal Income Tax Act 2004 LFN (as amended in 2011) and will not be reopened for business until all full compliance is attained.

He further explained that several meetings had been held with their representatives in the last three years in order to resolve the outstandings, however, all proved abortive. He made reference to the latest meetings held with the company on the 8th of October and 13th of Novembe, 2015 but the company representatives always renege on their promise.

Mr. Oyebanji said, the Osun State House of Assembly also intervened in the matter by inviting Globacom to appear before the special session on 3rd of December, 2015. Though the company representatives appeared before the House on that day, but all the promises to remit the outstanding tax liabilities within two weeks is yet to be effected up till now.

Another important issue is the failure to obtain relevant approval for laying of fibre optics in line with the State’s relevant regulation on physical and urban planning. He emphasized that in the last few months, it has been discovered that GLO has been laying cables and masts especially in Ife Axis without obtaining necessary approval and thus violating the law.

He stressed further that, OIRS has intensified its efforts on advocacy, publicity and enlightenment programmes on the statutory obligations of the citizenry for voluntary compliance by paying their taxes promptly as prescribed in the Nigeria constitution and the applicable tax legislations. In spite of its efforts, some corporate organizations and individuals still engage in several violations. As a result of this, OIRS is set to begin enforcement of tax payment, prosecution of all tax defaulters in the State of Osun to ensure that the defaulters are made to face the full scale of the law.

He also explained that, Personal Income Tax Act mandates all taxable institutions to file its annual tax return for the preceding year at the expiration of 90 days from the commencement of every year of assessment, a taxable person or corporate organizations who fails to file its returns with OIRS by the stipulated date is in breach of the provisions of the law.

He, however, thanked those who have continued to express their unalloyed support to the State of Osun through their regular tax payment. He assured members of the public that Osun State Government is committed to building a vibrant economy aimed at boosting commerce, industry and improving the welfare of the citizenry which can only be achieved through prompt tax payment of all the concerns, he added.

In his conclusion, he re-iterated that OIRS will not hesitate to take legal action against recalcitrant individuals or corporate organizations that fail to perform their civic responsibility to the State government in the area of tax payment.

Osun, Lottery Firm Signs MoU To Boost Revenue Generation

Osun State Government has signed a memorandum of understanding with Global Gaming Company Limited to transform lottery business in the state in order to use it to create employment and generate more income to the treasury of the state.

The Chairman of the Osun State Board of Internal Revenue, Mr. Dayo Oyebanji, signed on behalf of the state in Osogbo on Friday while the chairman of the company, Yahaya Maikori, signed the agreement on behalf of the company.

Oyebanji said with the agreement signed, gaming business in the state would be transformed from manual operations to automated one as from  April 1st.

According to him, this will prevent fraud caused by leakages in manual operation adding that the state would also generate more fund which it needed at this time to   steady the dwindling revenue from Abuja.

He said, “This initiative is the first if its kind. We are talking about developing gaming business and this company is one of the best in the world.”

“Gaming business is mainly manual in Osun and other states but this initiative will plug leakages and prevent fraud.”