{"id":29707,"date":"2014-07-31T22:27:32","date_gmt":"2014-07-31T21:27:32","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=29707"},"modified":"2014-07-31T22:27:32","modified_gmt":"2014-07-31T21:27:32","slug":"lagos-generates-n120bn-tax-6-months","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/lagos-generates-n120bn-tax-6-months\/","title":{"rendered":"Lagos generates N120bn from tax in 6 months"},"content":{"rendered":"<div style=\"color: #262626; text-align: justify;\"><br class=\"Apple-interchange-newline\" \/>The Lagos State Internal Revenue Service (LIRS) on Thursday said it generated more than N120 billion from taxation between January and June this year.<\/div>\n<div style=\"color: #262626; text-align: justify;\">The Executive Chairman of the service, Mr Tunde Fowler, told the News Agency of Nigeria (NAN) in Lagos that 90 per cent of the taxes were generated from the organised private sector and civil servants.<\/div>\n<div style=\"color: #262626; text-align: justify;\">Fowler said that the remaining 10 per cent came from the informal sector, mostly market women, artisans, commercial drivers and taxable individuals in the state.<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u00a0He said the state had relied on the Internally Generated Revenue (IGR) to implement its budget following the dwindling statutory allocations.<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u00a0The chairman said the increase in the IGR to N237 billion in 2013 from N15 billion in 1999 were the fallouts of sustained mobilisation and tax education in the state.<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u201cIn 1999, Lagos State generated N15 billion from IGR but last year it increased to N237 billion, an increase of N222 billion within 14 year<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u201cThere has been a steady growth in tax payment in the state,\u201d he said.<\/div>\n<div style=\"color: #262626; text-align: justify;\">He projected that this year\u2019s IGR would improve beyond the previous years.<\/div>\n<div style=\"color: #262626; text-align: justify;\">Fowler also said that any development required money, adding that the IGR would further bridge the statutory allocation from the Federal Government.<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u201cAny transformation will require money and you can\u2019t transform without funding.<\/div>\n<div style=\"color: #262626; text-align: justify;\">\u00a0\u201cNow that the allocation from the Federal Government is reducing due to drop in oil revenue, we must look elsewhere to meet up with our budget,\u201d he said.<\/div>\n<div style=\"color: #262626; text-align: justify;\">He said the generated revenue would be used to ensure the state had good roads, improve health services and adequate security.<\/div>\n<div style=\"color: #262626; text-align: justify;\">Fowler assured the residents of the state that 200 roads in the state would be repaired before the 2015 tenure expiration of the administration.<\/div>\n<div style=\"color: #262626; text-align: justify;\">The chairman urged the residents to endeavour to pay their taxes regularly, adding that the money was being used to implement the state\u2019s budget. (NAN)<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Lagos State Internal Revenue Service (LIRS) on Thursday said it generated more than N120 billion from taxation between January and June this year. The Executive Chairman of the service,&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":25154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-29707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lagos generates N120bn from tax in 6 months - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/lagos-generates-n120bn-tax-6-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lagos generates N120bn from tax in 6 months - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Lagos State Internal Revenue Service (LIRS) on Thursday said it generated more than N120 billion from taxation between January and June this year. 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