By SAEED TIJJANI
In spite of the imbalances created by the Covid-19 pandemic, the year 2020 was remarkably progressive for Kwara State Internal Revenue Service (KW-IRS) as it generated a sum of N6,227,099,973.42 (Six Billion, Two Hundred and Twenty Seven Million, Ninety Nine Thousand, Nine Hundred and Seventy Three Naira, Forty Two Kobo) in the fourth quarter of the year.
The statement made available to 9jaParrot contains the monthly records and breakdown of Internal revenues generated by KW-IRS in Naira. It noted that in the month of October a sum of 2,765,485,579.54 (N), while for the month of November and December, 1,287,202,252.78 (N) and 2,183,412,141.10 (N) were generated respectively, which sum up to a Total of 6,227,099,973.42 (N)
The statement further reveals the breakdown of the revenue generated monthly in Quarter 4 of year 2020, as discloses below;
The Service had a remarkable Quarter 1 before the COVID-19 pandemic took full effect on the economy. Due to the lack of physical contacts with some taxpayers for collections as well as the lockdown, there was a huge dip in revenue generated in Quarter 2 2020 which extended into Quarter 3 2020. By the last quarter of 2020, there was a substantial recovery from the crippling effect of the pandemic on businesses and Internally Generated Revenue (IGR).
For the entire year 2020, Kwara Internal Revenue recorded a total revenue of N19, 623,992,033.64 which was 75.48% of the N25, 997,573,296.00 revised annual budget.
The year 2020 was marked with quick implementations of various measures to cushion the effects of the pandemic on taxpayers, which included the donation of palliatives, extension of the deadline for filing Annual Returns from 31st March to 30th September, 2020, 30% waiver on arrears on ground rent and land charge for property owners and land occupiers, granting of moratorium to informal sector taxpayers, suspension of all enforcement activities, waiver of penalty and interest for High Net Worth Individuals (HNIs) and Corporate Organisations and over 30 Community Impact Programmes (CIPs).
The Service also accelerated the implementation of its automated systems to reduce the amount of contact required with tax payers for optimal revenue generation.
As evidenced in the recent achievement of $16.9m in SFTAS Annual Performance Assessment (APA) for 2019/2020 by Kwara, KW-IRS has ensured accountability and transparency in our internal processes and reporting. The Service has also improved significantly in our sequential and systematic reporting through the social, print, and electronic media platforms. The activities of KW-IRS in the year 2020 as well as the remarkable performance recorded irrespective of the snags caused by months of lockdown are pointers to our commitment to the welfare of taxpayers and improving the revenue drive of the State.
However, we are still experiencing a huge incidence of low tax compliance in the State. The Service will be implementing a year round sensitization and enforcement sessions with a view to reduce the incidence of tax evasion and under remittances. The year 2021 will also herald continuous automation of all relevant revenue lines which will change the mode of collection in several touch points across the State. The Service is appealing to all tax payers to join the Service in improving IGR to help the administration in fulfilling its obligations to the populace, Th statement concludes.
The statement further reveals the breakdown of the revenue generated monthly in Quarter 4 of year 2020, as discloses below;
The Service had a remarkable Quarter 1 before the COVID-19 pandemic took full effect on the economy. Due to the lack of physical contacts with some taxpayers for collections as well as the lockdown, there was a huge dip in revenue generated in Quarter 2 2020 which extended into Quarter 3 2020. By the last quarter of 2020, there was a substantial recovery from the crippling effect of the pandemic on businesses and Internally Generated Revenue (IGR).
For the entire year 2020, Kwara Internal Revenue recorded a total revenue of N19, 623,992,033.64 which was 75.48% of the N25, 997,573,296.00 revised annual budget.
The year 2020 was marked with quick implementations of various measures to cushion the effects of the pandemic on taxpayers, which included the donation of palliatives, extension of the deadline for filing Annual Returns from 31st March to 30th September, 2020, 30% waiver on arrears on ground rent and land charge for property owners and land occupiers, granting of moratorium to informal sector taxpayers, suspension of all enforcement activities, waiver of penalty and interest for High Net Worth Individuals (HNIs) and Corporate Organisations and over 30 Community Impact Programmes (CIPs).
The Service also accelerated the implementation of its automated systems to reduce the amount of contact required with tax payers for optimal revenue generation.
As evidenced in the recent achievement of $16.9m in SFTAS Annual Performance Assessment (APA) for 2019/2020 by Kwara, KW-IRS has ensured accountability and transparency in our internal processes and reporting. The Service has also improved significantly in our sequential and systematic reporting through the social, print, and electronic media platforms. The activities of KW-IRS in the year 2020 as well as the remarkable performance recorded irrespective of the snags caused by months of lockdown are pointers to our commitment to the welfare of taxpayers and improving the revenue drive of the State.
However, we are still experiencing a huge incidence of low tax compliance in the State. The Service will be implementing a year round sensitization and enforcement sessions with a view to reduce the incidence of tax evasion and under remittances. The year 2021 will also herald continuous automation of all relevant revenue lines which will change the mode of collection in several touch points across the State. The Service is appealing to all tax payers to join the Service in improving IGR to help the administration in fulfilling its obligations to the populace, Th statement concludes.
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