KW-IRS generates N4.015bn in 3rd quarter of 2020

Kwara State Internal Revenue Service

By Demola Akinyemi

The Kwara State Internal Revenue Service (KW-IRS) has generated the sum of N4,015,178,972.55 (Four Billion, Fifteen Million, One Hundred and Seventy-Eight Thousand, Nine Hundred and Seventy- Two Naira, Fifty-Five Kobo Only) out of a quarterly budget of N6,499,393,323.99 (Six Billion, Four Hundred and Ninety-Nine Million, Three Hundred and Ninety-Three Thousand, Three Hundred and Twenty-Three Naira, Ninety-Nine Kobo Only) for the third Quarter of the year 2020.

According to the statement issued by its Executive Chairman, Mrs Shade Omoniyi, the breakdown of revenue generated within the three (3) months of Q3 (July, August, and September 2020) is highlighted as follows: July 961,003,235.92 August 1,954,501,513.87 September 1,099,674,222.76, totalling 4,015,178,972.55.

Omoniyi recalled that KWIRS raked in N7.2billion and N2.1billion in Q1 and Q2 of 2020 respectively. KW-IRS generates N4.015bn in 3rd quarter of 2020

She noted that “The Q3 revenue achievement is an increase of about 87%, compared with figures recorded in Q2 of the year and this is as a result of the ease of lockdown and resumption of business activities across the spheres of the economy of the State.”

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Omoniyi added that he Kwara State Internal Revenue Service, therefore, has generated total revenue of N13,396,892,060.21 (Thirteen Billion, Three Hundred and Ninety- Six Million, Eight Hundred and Ninety-Two Thousand, Sixty Naira and Twenty-One Kobo Only) from a budget of N19,498,179,971.97 (Nineteen Billion, Four Hundred and Ninety-Eight Million, One Hundred and Seventy-Nine Thousand, Nine Hundred and Seventy-One Naira and Ninety-Seven Kobo Only), year to date, which translates to a fulfilment of a Sixty-Nine Percent (69%) collection achievement as at September 2020.

She also explained that KWIRS has introduced harmonized bills for Taxpayers as relevant to respective taxpayers, where various revenue items accruable to the MDAs across the State are consolidated and served.

” The harmonized bills avail taxpayers their total revenue and tax obligations to the State, streamline interaction of revenue authorities with taxpayers in the State, give room for adequate data capturing, payment narration and receipting of all payments made. “She stressed.

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She said that the collectibles on the harmonized bill include Registration and Renewal Fees on Business Premises, Signage and Advertisement fee, Fire Prevention/ Inspection of Establishment Fee, Earning from Gaseous Emission, Environmental Health and Safety Permit fees, Street Set back.

“Also consolidated on the harmonized bills are Registration and Renewal of License such as Hospital, Clinics and Laboratories, Drug stores, Cold rooms, Agro dealers, slaughter slab, Veterinary drug store, Feed Mills centers, Livestock farm, Schools, Car dealers and Private Garages, Hotel, Event centres, Eateries and Restaurants.”She added.

KWIRS boss also said that, in its bid to ease Tax Payment and ensure continued blockage of all forms of revenue leakages, the Kwara State Internal Revenue Service (KW-IRS) provided seamless Online Payment Platforms as opposed to direct cash lodgements into the IGR accounts of the State, stressing that the links to the online payment platforms are available on the KW-IRS official website and on all its social media platforms.

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The Service remains focused in the drive of its sole responsibility of Mobilizing Revenue for the Strategic Development of Kwara State, with all efforts geared towards consolidating its performance in the last quarter of the year, as schools and other major economic activities in the State resume fully. This is as the government continues to do its best to stopping all forms of criminalities and unrest in the State capital caused by hoodlums who hid under the #EndSARS protests to perpetrate crimes all across the nation.

Vanguard News Nigeria

The post KW-IRS generates N4.015bn in 3rd quarter of 2020 appeared first on Vanguard News.

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