LIRS TO BOOST REVENUE, COMPLIANCE WITH ETAX SOLUTION

 In Investor News

Lagos State Internal Revenue Service has urged stakeholders and taxpayers to adopt its Enterprise Tax Administration System, a digital, end-to-end, multi-channel solution for tax filing and payments. The LIRS said this became imperative because of the drive of the government to generate revenue and achieve a seamless and compliant tax system.

According to a statement, LIRS made this call at a workshop where key stakeholders, consisting of consultants, account and tax experts, large business organisations’ representatives, and small and medium-scale enterprises, came together to share insights with the public.

The LIRS said this was part of its strategy of making the public know more about and take advantage of the newly introduced electronic tax system. The statement said, “The system has capabilities for tax registration, tax calculation, filing of returns, payment and processing of treasury receipts. The challenge of revenue generation is not new in Nigeria.

“It is one that is faced both at the federal level with its over dependence on proceeds from the volatile crude oil market and sub-optimal tax administration. “Also, most states within the federation have been reported as cash-trapped, hence the need to boost the efficiency and effectiveness of its tax administration.”

A Partner and Head of Tax, Regulatory and People Service, Practice of KPMG in Nigeria, Wole Obayomi, was quoted as saying, “The introduction of eTax is a step in the right direction, as it would reduce tax compliance costs, increase the efficiency of revenue collection and improve the ease of paying taxes in Lagos State. Taxpayers would, therefore, do well to take advantage of the digital platform.”

According to the statement, the Chairman, LIRS, Hamzat Subair, said, “Our goal is to develop a tax system that is seamless, electronic and user-friendly, where tax payers can interphase with tax authorities and perform their civic responsibilities from the comfort of their homes and offices.”

https://punchng.com/lirs-to-boost-revenue-compliance-with-etax-solution/

 

 

 

 

 

 

 

 

 

Recent Posts

Leave a Comment

Contact Us

Please send us a mail. We'll respond to you shortly.

Not readable? Change text. captcha txt

Start typing and press Enter to search