The Ogun State Internal Revenue Service has stated that it is collecting an average of N2billion monthly as revenue from the personal income tax from individuals living in the state.
The agency rates itself as second to Lagos state, in terms of personal income tax revenue collection in the country.
The agency chairman, Mr Kunle Adeosun, who made this known, while briefing the state House of Assembly’s Finance and Appropriation Committee on its activities, attributes the improved income generation to the support of corporate organizations operating in the state, who appreciate the infrastructural development of the state.
The IRS chairman explained that, the state government is working on improving the income tax generation by investing more on housing estates, to attract more top management staff from the Nigeria Breweries in Ota and Ijebu-Ode, as well as, Larfage Cement in Ewekoro and Sagamu, who are living in Lagos.
Adeosun however said the very low compliance level from the informal sector remain the major challenge facing the agency .
The House finance and appropriation committee chairman, Olusola Bankole lauded the state revenue service agency and asked it to block the revenue leakages to improve the revenue profile of the state