ODIRS Says Taxation, Key To Country Development

For any country to develop, the Chairman of Ondo State Internal Revenue Service (ODIRS), Tolu Adegbite has said says taxation is very important. 

Adegbie made the assertion in his lecture titled 'Tax, The Future and You', at a programme organised by Elizade University Tax Club (EUTC), on Friday in Akure,

Segun Enikuomehin, the Chairman, represented by Director, Personal Income Tax at ODIRS, said domestic revenue is required in any economy to provide public services, and also for the delivery of democratic dividends to the citizens.

“Taxation is important if any government is to get enough funds for the delivery of dividends of democracy, like provision of basic needs and infrastructural development.

“There is no doubt that an efficient tax system enhances revenue-generating potential,” he said.

Adegbite, while speaking on developing an effective tax system as done by the service, said well-articulated tax restructuring, engagement of young and vibrant tax graduates and the use of technology could not be overemphasised.

“If we have to change the present narrative, 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 collection was hovering around N10 billion annually.

“In 2018, the present administration took the bull by the horn and the narrative 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 a billion in 2017 to over N30 billion 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 the economic development of Nigeria,” he said.