Ekiti monthly IGR increases from N650m to over N1bn in 2023

The Ekiti Govt. says it has increased its monthly Internally Generated Revenue (IGR) from N650,000,000 to over one Billion Naira without increasing tax.

The State Chairman, Internal Revenue Services (EKIRS), Mr Olaniran Olatona, disclosed this at a news conference on Friday in Ado-Ekiti.

Olatona said that before his assumption of office, the state ranked 35 out of the 36 states, and the Federal Capital Territory (FTC) in indices of states with poor IGR.

“Before now, Ekiti used to rank 35 or 36 out of the 37 states including the Federal Capital Territory (FTC) in IGR collections in the country.

“But in the last ranking, we have moved up to 25th position, which to us is a remarkable achievement.

“We are not allowing this to get to our head as we are still working hard to make sure we are in the one-unit position on the ladder,” he said.

To this end, the EKIRS boss said that the state government has resolved to harmonise its tax collection with a view to provide a friendly environment for businesses to thrive in the state.

Olatona described revenue harmonisation as a crucial step towards attracting investments and promoting economic prosperity.

He said, “we are about 85 per cent done with the harmonised billings, and by 2024, a large number of taxes will be harmonised to enable business owners have a bill encompassing all taxes to be paid.

“Our aim is that tax payers in Ekiti get a document as well as business owners that harmonises all the taxes expected of them to pay.”

He counseled business owners to relate directly with the EKIRS office, rather than falling prey to fraudulent operators parading themselves as the agencies representative.

“For instance, we have been able to prosecute some people arrested for impersonating our staff, while some are still under interrogation and will be prosecuted immediately if found culpable.

“I am calling on business owners that provide hospitality services, expected to be paying consumption tax, to comply as the tax payment is not new in the state.

“Business owners should understand that the payment of these taxes to government is used to also provide a more friendly business environment for their businesses to thrive, which will bring more prosperity to all.

“I am using this opportunity to also warn tax offenders, who find it convenient not to renew their vehicle licences, or fail to renew as at when due, that their vehicles or motorcycles would be impounded.

“And the agency will ensure that your tax clearance is presented before your impounded vehicle is returned,”Olatona said.

The EKIRS chairman also reiterated Gov. Biodun Oyebanji-led administration’s commitment to continue to create a business friendly environment to foster economic growth, job creation and overall development of the state.

He assured all residents in the state of deriving valuable benefits from imbibing the culture of tax compliance and encouraged them to avoid the consequences, penalties and sanctions of non compliance.