26 September 2017

Nigeria: Kaduna Generates N15.7 Billion Internal Revenue in 8 Months - Official

Mukhtar Ahmed, the Executive Chairman, Kaduna State Internal Revenue Service, KDIRS, says the state generated N15.7 billion as Internally Generated Revenue (IGR) from January to August.

He made the disclosure on Tuesday in Kaduna in an interview with the News Agency of Nigeria, NAN.

He spoke on the sideline of an interactive session on the new tax law KDIRS held with members of the business community.

The chairman expressed confidence that the service would realise between 60 to 70 per cent of the N50.2 billion target it set for itself this year.

"We recorded 25 per cent increase in revenue generation in 2016.

"We are looking at between 35 to 40 per cent increase in revenue this year; with the new tax law in place, I am very confident that it is attainable, "he added.

In another development, Kamaradeen Adigun, the former President, Chartered Institute of Taxation of Nigeria, has commended Kaduna state government for adopting the Treasury Single Account, TSA.

He submitted that adoption of TSA would enhance tax collection in the state.

Mr. Adigun, who described harmonisation of tax collection in the state as "a step in the right direction," declared that the measure would enhance revenue generation.

NAN recalls that in March 2016, Kaduna state government enacted a new tax law which empowered KDIRS as the sole collector of revenue in the state.

The law banned all forms of cash collection from tax payers.

Mr. Adigun explained that implementation of the tax law by KDIRIS had ensured transparency in tax collection.

"What the government has done is a crucial step towards improved revenue generation.

"Before now, you will find all manners

of people going about in the name of state or local government collecting all manners of tax.

"The bulk of the monies collected do not go into the coffers of the government, but ends up in peoples pockets.

"Harmonising tax collection through the TSA has not only blocked leakages, it has also ensured transparency in revenue collection," he said.

Mr. Adigun urged the management of KDIRS to embark on aggressive awareness campaign to sensitise the people on the new tax law.

(NAN)

Nigeria

Judges, Bankers Caution Against Use of Virtual Currencies

Judges, led by the Chief Justice of Nigeria, Walter Onnoghen and the Chartered Institute of Bankers of Nigeria (CIBN)… Read more »

Copyright © 2017 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.