Just like with Oliver Twist, the Abia State Government is looking away from a recent feat of raising its monthly Internally Generated Revenue from ₦500 million to the current sum of ₦1.5 billion. Without much ado, the state government is out again looking for more money. The south-eastern state seems not carried away with the 200 percent increase in IGR.
The state under the leadership of Dr. Okezie Ikpeazu while recently explaining the rationale behind the quest for more IGR, pointed to the ever-dwindling federal allocation and increasing monthly demands required to run the state reaching a whopping sum of between ₦2.5 billion to ₦3.5 billion.
As a roadmap to achieving this ambitious craving for more revenue, the entire tax administration must put on the cap of innovation, embrace efficiency and act proactively by identifying and eradicating loopholes in IGR growth.
The above-mentioned roadmaps are the pillars recently revealed by the state government to work the talk, charging all Ministries, Department, and Agencies including Local Government Areas to comply with the Abia State revenue Laws as implemented by the Abia State Internal Revenue Service, ABIRS.
Beyond the current economic downturn, a key source of inspiration necessitating the Abia State government to put in place this strategy to boost IGR is a prediction of a significant drop in revenue allocation from the Federation Account Allocation Committee which is expected to happen in the coming days.
Taxmobile.Online has learnt that the Abia State leadership recently directed that all hands must now be on deck from local councils and MDAs to ensure that the sum of ₦3 billion is realized as monthly IGR. The directive did not come without the threat of sanctioning erring parties across sectors.
The state’s internal revenue board has also received empowerment to report non-compliant MDAs by month-end and monitor closely any MDAs that have rejected the visit of any desk officer from the ABIRS to check their records.
Driving home the point of the need to take seriously revenue generation, the state government has now based tax compliance as a yardstick for political appointment in the state.