Home » KWIRS raises N26.9b revenue in 2021

KWIRS raises N26.9b revenue in 2021

by Editor

The Kwara State Internal Revenue Service (KW-IRS) has realized a total IGR 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.

This was contained in a statement signed by the Executive Chairman, KW-IRS, Shade Omoniyi, on the 29th January, 2022, a copy of which was sent to this medium by the Head, Corporate Affairs of the service, Titilayomi Ogunwale.

The statement disclosed that 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” the statement added.

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

The Executive Chairman, KW-IRS, Shade Omoniyi 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.

It added that 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.

The statement however noted 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.

“For KW-IRS, the focus in the year 2022 are: i. Consolidation of the Digitization Process,which aims at achieving taxpayers’ convenience, as some of our major structural improvements include the Self-Service Portal where taxpayers could perform basic tasks in the comfort of their locations such as:  Request for Kwara Residence Identification Number (KRIN)  Make all forms of revenue payment  Remittance of PAYE  Upload PAYE Schedule  View Payment History  Generate Tax Assessment  File Tax Returns  Request and Print Tax Clearance Certificate  Request Citizenship Certificate  Make payment for Hajj & Pilgrimage  Get Notification of Assessment and carry out other tax related activities.

“ii. Broadening the Tax Net and making IGR Collection Seamless in the Informal Sector- Several initiatives introduced at the Kwara State capital will be taken to all the Local Government Areas with our continuous expansion of operations to all Local Government Areas and the recruitment and deployment of additional 100 staff for improved efficiency at the grassroots.

“iii. Introduction of cashless payments in several touch points across the State with the consolidation of payment platforms and continuous improvement on its automation system across board.

“iv. Continuous improvement with the acquisition of additional data to the Harmonized Billing System for more efficient collections of taxes and revenues. Integration of all existing sub-systems to our platforms as well as Tertiary Institutions payment platforms. This is possible with the improved business relations and engagements between the Service and the relevant MDAs and various stakeholders in the State.”

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 statement added.

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 also urged all staff, stakeholders, taxpayers, and partners to stay safe always and abide by all Covid-19 safety protocols.

You may also like

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.