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Osun Targets N3bn IGR Monthly in 2020

By KAZEEM MOHAMMED

Government of Osun said it has targeted to generate minimum of N3billion monthly as Internally Generated Revenue (IGR) in 2020.

Chairman of the state Internal Revenue Service (IRS), Mr Adegbite Ademikanra, stated this during an interaction with newsmen in Osogbo on Tuesday, saying the government is currently generating N1billion.

Noting that only about 600,000 people are currently paying taxes, he said, the major assignment for the service was to ensure that more taxable adults are captured in the tax net.

He noted that the government revenue generation has been increased by about 70 per cent within the last eight months due to tax education, saying the strategy would be strengthened to captured more people.

He said: “Our targets is to generate minimum of N3billion. The idea is that the IGR will be enough to pay the salaries and pensions and use whatever we have left in addition to our meagre allocation for the general development of the state.

“We are not going to overburdened our people with more taxes, but we will captured those that have not been captured in the tax net”, he said.

He said the government has taken measure against what is perceived as double taxation, saying, the governor has approved the collapse of rates that look similar, being collected by state and Local Governments and centralise them.

Olamikanra hinted that the government has set a threshold of minimum of N3,500 annually as taxes for informal workers, which could be paid installmentally.

The IRS boss also denied the allegation that students were being taxed, saying, government only makes it a policy that any student that would be admitted into public school must provide parent’s tax receipt.

He however hinted that about five personal have been arrested within the last who weeks for forging and issuing government tax receipt to students.

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