The statement reads in part “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, KW-IRS 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.