December 14, (THEWILL) – The Cross River State Internal Revenue Service says plans are afoot to surpass the N35 billion naira revenue target for the service for 2024.
The acting Executive Chairman of the service, Prince Edwin Okon, disclosed this in Calabar during an interactive stakeholders session and training on best practices for tax consultants operating in the State.
The interactive stakeholders session was organised by the Cross River Internal Revenue Service and facilitated by Lani Consulting.
Prince Okon, whose keynote address was titled: “Synopsis of CRIRS 2023 Strategy and Achievements,” tasked stakeholders and participants to come up with practical solutions to the problems of multiple taxation and block loopholes in revenue generation.
“In 2024 and beyond, the projection is to reduce the number of taxes to single digit. We can do much more if we are able to work together and block loopholes.
“We hope to move the revenue far beyond the 35 billion Naira target and this requires the support of all stakeholders,” he said.
Prince Okon also disclosed that since his appointment about five months ago, they have been able to raise the internally generated revenue of the State from N20 billion in 2022 to about N36 billion as of November 2023.
He also said that revenue generated from ministries, departments and agencies has increased from the usual N3.8 billion since 2012 to N6.8 billion presently.
He tasked the participants to not just complain but come up with solutions that are achievable.
In her remarks, the State Commissioner for Commerce, Abigail Duke, said the interactive session was timely and commended the IRS for the initiative.
She added that the clash in revenue collection in the state is a very important issue that should be handled.
She also stressed that revenue is the bedrock of development in any society and if the government “cannot generate revenue we cannot get good governance.”
About the Author
THEWILL Correspondent, Aniekan Bassey has over six years experience that spans across several fields in print journalism including development communication, sexual reproductive and health rights issues, crime, climate change, social justice, business and human interest stories.
