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Published On: Thu, Jan 29th, 2015

Lagos lauds OPS over 96 percent tax compliance

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From Ayodele Samuel, Lagos

The Lagos State Internal Revenue Service (LIRS) on Wednesday commended the organised private sector (OPS) in state for achieving 96 percent voluntary tax compliance as it gave award to Access Bank and other companies and individual in the state.

The Chief Executive Officer of LIRS, Mr. Tunde Fowler, disclosed this in his welcome address at the Eighth Annual Lagos State Taxation Stakeholders’ Conference. He said without resorting to law suits, companies in the state are performing their civic duty of ensuring tax compliance.

His words: “We are so happy with the organised private sector for not giving us problems. This is not to say that we were not faced with some challenges, but these were amicably addressed without legal tussles and this is highly commended”.

In his address, Lagos State Governor, Babatunde Raji Fashola, who was attending the conference for the last time as Governor, said the government is happy at the achievements recorded by LIRS by ensuring that there is high-level compliance among the people.

“When we started this journey, I promised that it is going to be interesting and looking back now, I am convinced that we have built something that works, which is a model of public finance,” the Governor stated.

His Special Adviser on Taxation and Revenue, Mr. Abimbola Shodipo, while speaking on the awardees, said the LIRS has established the tradition of compensating goodness of taxpayers annually.

“In the last eight years, God has allowed us to appreciate tax payers and we have grown in the amount of money we collect and the number of tax payers. This is good news for us and we have to thank the governor for giving us the opportunity to do this. We are also thanking him for also using the money collected judiciously,” Shodipo declared.

While receiving the award on behalf of the Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, the Chief Financial Officer Mr. Seyi Kumapayi said: “Access Bank is grateful to be so recognized as a tax compliant institution. We know of only one way to conduct our business and that’s the socially responsible way.

 

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