KW-IRS Generates N19. 6bn in 2020

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    Chairman KWIRS ,Shade Omoniyi

    By Mosunmola Ayobami,Kwara

    The Executive Chairman, Kwara State Internal Revenue Service (KW-IRS) Mrs. Shade Omoniyi has disclosed that the service has generated a total Internally Generated Revenue (IGR) of N19.6billion which was 75.48per cent of the N25.99billion revised annual budget for the entire year 2020.

    She said in spite of the imbalances created by the Covid-19 pandemic, the year 2020, was remarkably progressive for the Service as it generated a sum of N6.3 billion in the fourth quarter of the year.

    She disclosed this in a statement she personally signed, a copy made available to Western Post on Saturday.

    The breakdown of the IGR by KW-IRS in Q4 2020 includes N2.77billion in October; N1.29billion in November and N2.18billion in December.

    This brings the total to N6.23billion.

    She said the Service had a remarkable Q1 before the COVID-19 pandemic took full effect on the economy. Due to the lack of physical contacts with some taxpayers for collections as well as the lockdown, there was a huge dip in revenue generated in Q2 2020 which extended into Q3 2020. By the last quarter of 2020, there was a substantial recovery from the crippling effect of the pandemic on businesses and IGR.

    According to her,the year 2020 was marked with quick implementations of various measures to cushion the effects of the pandemic on taxpayers, which included the donation of palliatives, extension of the deadline for filing Annual Returns from 31st March to 30th September, 2020, 30% waiver on arrears on ground rent and land charge for property owners and land occupiers, granting of moratorium to informal sector taxpayers, suspension of all enforcement activities, waiver of penalty and interest for High Net Worth Individuals (HNIs) and Corporate Organisations and over 30 Community Impact Programmes (CIPs).

    She added that, the Service also accelerated the implementation of its automated systems to reduce the amount of contact required with tax payers for optimal revenue generation.

    “As evidenced in the recent achievement of $16.9m in SFTAS Annual Performance Assessment (APA) for 2019/2020 by Kwara, KW-IRS has ensured accountability and transparency in our internal processes and reporting. The Service has also improved significantly in our sequential and systematic reporting through the social, print, and electronic media platforms”

    “The activities of KW-IRS in the year 2020 as well as the remarkable performance recorded irrespective of the snags caused by months of lockdown are pointers to our commitment to the welfare of taxpayers and improving the revenue drive of the State”.

    She, however, said the service is still experiencing a huge incidence of low tax compliance in the State, adding that the service will be implementing a year round sensitization and enforcement sessions with a view to reduce the incidence of tax evasion and under remittances.

    Omoniyi further said year 2021 would also herald continuous automation of all relevant revenue lines which would change the mode of collection in several touchpoints across the State.

    She said the service is appealing to all tax payers to join the Service in improving IGR to help the Administration in fulfilling its obligations to the populace.

     

     

     

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