The Sokoto State Internal Revenue Service (SIRS) raked in about N41 billion as Internally Generated Revenue (IGR) from 2017 to 2019.
The SIRS Director of Pay As You Earn (PAYE), Ibrahim Mijinyawa, who disclosed this, said a new law, which established the present SIRS, replacing the defunct Sokoto State Board of Internal Revenue (SSBIR), was enacted and assented to by Gov. Aminu Tambuwal on December 31, 2019.
The tax expert gave these hints at the stakeholders’ “Periodic Reflection and Action Meeting on Tax Justice and Gender Responsive Public Service and Breaking Barriers” project organised by Rural Women and Youth Development (RUWOYD) in Sokoto.
He explained that: “The defunct revenue board strove on enhancing revenue collection, as in 2017, it realised N9bn, N13bn in 2018 and N19bn in 2019, indicating a steady increase.”
‘’The 1988 laws were revised that reviewed the rates and take care of modern automation comprising internal system platforms that will tackle leakages and enhance online payment.”
According to him, the agency which had been granted full autonomous financial and administrative status, got five per cent of its collections for operational activities.
He added that the law allowed the establishment of a tax tribunal, a single account and repealed obsolete laws of revenues and charges, as well as collectible sources.
Mijinyawa further said the state and local government revenue committees were established to discuss revenue issues, provide solutions on tax challenges and seamless activities in accordance with modern transformations suitable and relevant to existing best standard practices.
Meanwhile, Sokoto State Governor, Alhaji Aminu Tambuwal said the N65.7bn loan to be accessed by his government would be repaid within the second term of his administration.
He also reiterated that the loan was meant to improve infrastructures in the state and critical projects such as agriculture, health and housing, adding this would contribute to the economic transformation of the state. Tambuwal spoke at the management retreat organized by the state Ministry of Finance in Lagos.
Represented by the Commissioner of Finance, Alh. Abdussammad Dasuki, the governor stressed that the loan would be judiciously utilized for the purpose it was being sought.
Tambuwal said the state got access to alternative funding because of the financial reforms it has embarked upon which has attracted international partners.