When it comes to the matters of revenue generation, there is no one cap fit all as tax administrations across the nation continue to craft indigenous ways to catch up with the trend of self-sustainability, no thanks to the ever-dwindling federal allocation.
In the light of a deliberate and peculiar approach, the Edo State Internal Revenue Service, EIRS has decided with an entourage of its key officials to visit tax compliant establishments all in the aim to further boost tax compliance within the state.
This approach has made it typical of the EIRS to shower praises on any establishment visited for its consistent tax compliance. The latest of such an establishment visited is the Igbinedion University Okada (IUO).
The management of the varsity has been commended during the recent visit tagged ‘Operation Know Your Taxpayers’ for paying taxes as at when due and contributing its quota to the state’s development.
Searching through the record of tax-compliant establishments in the state, the Igbinedion University Teaching Hospital (IUTH) which is an arm of the mother institution also received recognition from top officials of the EIRS. This makes a double accolade for the institution in general.
Comments on EIRS’ move
The revenue agency of the state government has since been commended for this unique approach to beyond odds, visit establishments across the state.
Dr. Nosa Edogiawerie, the Bursar of the Igbinedion University, Okada in a recent comment has hailed EIRS for a friendly disposition, providing an interactive opportunity where the agency and visited establishments can have clarifying discussions over tax concerns.
On legality, the institution’s legal team has insisted the EIRS’s move will put on the line, the reputation of establishments and reiterate the need for them to comply to avoid a negative reputation.
More insight on EIRS’ move
Taxmobile.Online has gathered from a statement by EIRS’ Executive Director, Income Tax, Felix Isuku, that the agency after reviewing the records of tax-compliant establishments, identified the need to establish the ‘Operation Know Your Taxpayers’ movement to encourage compliance.
The movement also aims at fostering a cordial relationship between tax-compliant establishments and enable them to get first-hand information on taxpayers for ease of interaction and improved cooperation.