Ogun govt pledges support for OGIRS to achieve N120bn proposed budget

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.Ogun governor, Prince Dapo Abiodun

The Ogun State Government has pledged to give more support to the Ogun State Internal Revenue Service ( OGIRS ) in order to achieve the proposed N120bn  proposal budget in year 2022.

The state governor, Prince Dapo Abiodun gave this pledge at the Treasury board meeting for the year 2022 to 2024 Medium Term Expenditure Framework and 2022 Advance Proposals and Draft Estimates of Ministries, Departments and Agencies held at the Oba’s Complex , Ministry of Local Government and Chieftaincy Affairs,Oke-Mosan, Abeokuta.

The governor said the  funds for operational vehicles  and others to facilitate tax campaign and enforcement exercise would be provided, enthusing that this would lead to increased revenue generation.

The Executive Chairman, OGIRS, Mr Olugbenga Olaleye while presenting the agency’s proposed budget pointed out that various challenges experienced in the bid to digitised the processing of all revenue heads in 2021 posed a major setback in achieving the 2021 revenue target.

“We planned for a lot of things for 2021 budget  during our presentation and we stated  then that it can only be achievable  based on the use of  digitization for all our tax processes.

“This is something that has unfortunately took so long, as we are not yet there. But by the grace of God, we are almost there, and in the next couple of days  we should commence digitization fully,” Olaleye said.

Olaleye added that the proposed N120bn was achievable as various revenue generating opportunities would be explored and available revenue lines like  Pay As You Earn,  Witholding Tax from both physical and online business transactions, Direct Assessment of all High-networth Individuals in the state, Minimum Tax,  ( among others) Tax auditing of  all companies in Ogun state for compliance and discovery of new companies, thereby expanding the tax net.

He noted that when funds are released to acquire needed equipment for digitization process of revenue items, the revenue generated would increase.

“Basically, we have a great mind to achieving our target for 2022 compared to our 2021 performance, for us to achieve this target, actualising digitization is very important as well as early release of funds to make available all required gadgets, as there can not be digitization without computers and other inclined necessary tools for tax operaton purposes,” OGIRS chairman added.

 

 

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