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The Kwara State Internal Revenue Service (KW-IRS) has announced that it generated sum of N26,961,014,485.76 (Twenty Six Billion, Nine Hundred and Sixty One Million, Fourteen Thousand,Four Hundred and Eighty Five Naira, Seventy Six Kobo) for the year 2021.
The Executive Chairman of the state revenue generation agency, Shade Omoniyi, disclosed this in a statement she personally signed and made available to Journalists by the Head, Corporate Affairs, of the agency, Titilayomi Ogunwale, in Ilorin.
The statement reads “the total IGR generated for the year 2021, represents 95.61% achievement of its annual budgetary target of N28,199,910,200.00 (Twenty Eight Billion, One Hundred and Nine Nine Million,Nine Hundred and Ten Thousand, Two Hundred Naira Only). The feat is the highest target hit since the agency was founded in 2016”
A quarterly breakdown of the IGR generated for the year is as presented below:
Quarter Revenue Generated (N)
Q1 : 9,616,070,933.17
Q2 : 6,491,694,948.90
Q3 : 5,688,630,716.32
Q4. : 5,164,617,887.37
TOTAL : N26, 961,014,485.76
KW-IRS boss, further noted that “the year 2021 started on a good note, with an IGR collection of N9.6Billion, in the first quarter, the highest in the history of Kwara State Internal Revenue Service since its establishment without introduction of new taxes and or any extraordinary item”
“Revenue collection across board dipped in quarters 2, 3, and 4 of 2021, owing to challenges associated with general apathy in the adoption of some newly introduced revenue collection processes, non-remittance, as well as the seasonal collections”
She explained further that “year 2021 had a remarkable revenue achievement of N26, 961,014,485.76, an improvement of 37.34% over the total IGR of N19.638billion generated in the year 2020”
“This achievement is attributable to the gradual recovery of the economy after the pandemic, continuous consolidation, and digitization of all revenue lines of the State, both of which are helping to reduce revenue loss, leakages, and diversion of revenues accruable to the State Government” said Omoniyi.
“The Kwara State Internal Revenue Service (KW-IRS) is not relenting in its efforts of provision of seamless tax administration, continuous tax advocacy through various mass media platforms and stakeholders’ engagement to ensure tax compliance, prompt payment and remittance of tax arrears, eradication of under deductions and non-remittance of taxes due on income”
Talking on the focus of the agency in year, 2022, Omoniyi said, KW-IRS, will focus more on Consolidation of the Digitization Process, which aims at achieving taxpayers’ convenience and Self-Service Portal where taxpayers could perform basic tasks in the comfort of their locations.
The statement further assures that as the year 2022 progresses, KW-IRS will continue to establish more profitable partnerships and effective work relationships with all stakeholders for smooth revenue administration and strategic development of the State.
“The Kwara State Internal Revenue Service (KW-IRS) will strengthen all efforts towards revenue generation and hinge its performance on expertise, refined processes, and new technology, with vision to outclass its peers in the country”.
“The Service remains committed to improving its processes, promoting collective work ethics, and seamless provision of tax administration for the growth of Kwara State IGR”
The KW-IRS boss charged all business owners in the State to register their businesses with the KW-IRS, ensure tax returns are done within the time allowable by law, declare all sources of income for appropriate assessment, and pay all that is due on income as tax within stipulated time.
Shade Omoniyi, however, urged all staff, stakeholders, taxpayers, and partners to always stay safe and abide by all Covid-19 safety protocol.
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