Osun To Boost IGR With Registration Of Business Premises | Independent Newspapers Limited
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Osun To Boost IGR With Registration Of Business Premises

Posted: Feb 26, 2016 at 7:18 am   /   by   /   comments (0)

Gbenga Faturoti, Osogbo

The Osun State government has initiated a campaign urging residents to register their business, in its efforts to boost internally generated revenue (IGR) to cushion the effects of dwindling allocations from the federation account to states.

In rally at some major markets across the state, Mr. Dayo Oyebanji, acting chairman and chief executive officer of Osun Internal Revenue Service, said that the state government was working towards improving the level of voluntary compliance in the payment of taxes for the growth of the revenue base of the state.

Oyebanji stressed the need for residents to register their business premises and pay other taxes. He said, aside from generating revenue for the government purse, business registration would also enable government to have reliable planning data to enhance even development in all parts of the state.

He maintained that those who evade taxes would be made to face the full weight of the law, even as he disclosed that the agency has been receiving positive feedback especially from the informal sector,.

“The reason for the aggressive campaign on the payment of taxes and other levies was due to paucity of funds occasioned by the drop in the federal allocation to the state,” he said.

At the rally, Reverend Abimbola Osho, coordinating director in the Ministry of Commerce, Industry, Cooperatives and Empowerment, said the initiative would complement development programmes by the state government towards making life more comfortable for the people.

While enjoining shop owners, market men and women and artisans to register with the ministry, Osho assured them that everyone would be charged based on the sizes of their premises.