Ogun State government has expressed concern over the delay by the state House of Assembly, in delaying the passage of a bill seeking to harmonize taxes, to end multiple taxation in the state.
The delay, according to the state government, is affecting businesses and its internal revenue generation.
Commerce and industry commissioner, Otunba Bimbo Ashiru expressed the concern while receiving in his office in Abeokuta, the Assembly’s commerce, investment and trade committee members, who are monitoring the ministry’s 2017 budget implementation.
The passage of the tax harmonisation bill, according to Ashiru, will ensure the state commerce and industry ministry and other state government revenue generating ministries, agencies, as well as, the local governments and local council development areas (LCDAs) get their own shares of the harmonized tax.
The commissioner also said the state government is amending some of its laws to accommodate newly initiated revenue items on registration of trade, artisan groups and dredging fee inline with realities in the present business environment in the country.
He explained that the ministry can only generate N469.17million as at August 31, which represents just 16 percent of the N3billion projected revenue for the outgoing fiscal year.