The Chairman, Ondo State Internal Revenue Service, Tolu Adegbie has reiterated the relevance of proper taxation to the delivery of democratic dividends to the citizens.
Adegbie, who is also the Patron of Elizade University Tax Club, stressed this at the club’s dinner on Thursday in his paper titled “Tax, The Future and You”.
Represented by Director Personal Income Tax at ODIRS, Mr. Segun Enikuomehin, Adegbie said domestic revenue is required in any economy to provide public services.
He added that “Taxation is sin qua non if any government is to get enough fund for delivery of dividends if democracy like provision of basic needs and infrastructural development.
“There is no doubt that efficiency tax system enhances revenue generating potentials”.
Speaking on developing an effective tax system, as done by the ODIRS, the tax expert said well articulated tax restructuring, engagement of young and vibrant tax graduates and the use of technology cannot be over emphasised.
“If we have to change the present narratives, we need a tax policy mix and design.
“In Ondo State, this ugly picture was about reading its ugly head in 2017 when our total tax collectionwas hovering around N10b annually.
“In 2018, the present administration took the bull by the horn and the narratives changed with the introduction of various measures as earlier highlighted.
“The resultant effect was a boost in the collection of revenue in ODIRS. Today, the collection has moved from 10b in 2017 to over N30b in 2021.
“Taxing right, tax types, number of taxes, rate of taxes and base of taxes will go a long way in shaping the success or failure of our dear future in the economic development of Nigeria”, he concluded.
In her lecture titled, “The role of Taxation in Resolving the Nigerian Economic Crisis”, the Special Adviser to Governor Oluwarotimi Akeredolu on Education, Dr Mrs Olawunmi Ilawole said Nigeria is a consuming nation, rather than a producing one and this and other factors had caused continuous economic crisis in the country.
Egbayelo stressed that taxation is one of the leeways for Nigeria to get out of her many economic crises.
She said that government at all levels cannot generate enough revenue without proper taxation to fund its many expenditures, adding that it can be used as a control mechanism to shape the economy.
Speaking with The Hope, the founder and Coordinator of the EUTC, Mrs Anthonia Oloko said the club had been engaging stakeholders within and outside Elizade University to create awareness about tax payment.
Earlier, the EUTC President, O O. Popoola noted that every taxable individual must pay tax for the society to develop.
The ODIRS boss, some other dignitaries and members of the club were presented with awards of recognition.
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