With dwinding revenue from oil and implication of constant reduction of revenue from the federation account, it has become expedient for State Governments to think outside the box in raising funds needed for developmental purposes.
While Ondo State Government must be commended for drastically raising its Internally Generated Revenue, the Federal Inland Revenue Service ( FIRS), model must be copied by states , including Ondo.
The government agency increased its tax collection from N3.3trillion in 2015 to N5. 32 Trillion in 2019.
Acting Executive Chairman, Federal Inland Revenue Service, FIRS, Abiodun Aina, stated that, “At the point when we think in 2015, the segment was about N3. 3 trillion. Toward the finish of 2018, with your administration, we had the option to move to N5. 32 Trillion. That was the most elevated assortment ever, in the records FIRS ” .
According to him, the feat was realized through the execution of programmes as the Tax Amnesty Programme, executed VAIDS, expansion of the number of citizens across the nation paying tax to more than 20m within four years.
The agency also commenced the putting of lien on the record of citizens to guarantee that each fit corporate citizens pay his/her levy, encouraged coordinated effort among the states through the Joint Tax Board, started vigorous data sharing among states, propelled the JTB TIN so states may approach information for charge purposes, developed FIRS’ grasp of innovation for charge purposes.