Akwa Ibom State Internal Revenue Service has said that it is targeting to generate over N43.8bn as its Internally Generated Revenue (IGR) for the 2022 fiscal year.

The executive chairman of the Service, Mr. Okon Okon, who disclosed this on Friday while speaking at the 2022 Strategy Session in Uyo, assured that the organization would design strategies to deliver on the target and possibly improve on it.

He said the organization’s focus for the year under review will cover areas such as data/analytics, tax intelligence automation/digital capability, capacity building, new streams, maritime/oil & gas, re-structuring to improve efficiency.

According to him, “The state-wide IGR target this year (2022) is ₦43.8 billion. As I said during the public hearing on the 2022 Budget at the House of Assembly, let me reiterate that we will at this session design strategy to ensure that we deliver on this target and invariably improve our commonwealth, development, and prosperity.”

He stated that the main focus last year was on implementing version 2.0 of its corporate transformation agenda code-named REVITA (Revenue and Institutional Transformation Agenda).

According to him, the agenda saw massive investment in the training of staff, engagement of revenue stakeholders, and strengthening the Joint State Revenue Committee in a bid to ensure optimum collection of taxes in the state.

He said: “Our workforce – our greatest assets, took part in training for state-level tax administration organized by USAID with a focus on tax law and related reforms.

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“They also took part in annual tax conference, mandatory professional training programs, and the Joint Tax Board training. We also trained Assessment Authorities and Motor Licensing Authorities on direct and road taxes assessment, respectively.

“In keeping with our commitment to ensuring that enough revenue is generated for the complete agenda of His Excellency, Governor Udom Emmanuel, we collaborated with the Federal Road Safety Corps, Ministry of Transport, and security agencies in the state to carry out enforcement of road taxes. During that week-long enforcement exercise, our team deployed technology in the verification of motor licenses and that effort yielded tremendous positive results.”

The chairman added the Service engaged businesses and persons in the informal sector with a view to growing various segments of the taxpayers’ database.

He said that the result of the first three quarters of the year has shown strong resilience of the subnational economy to deliver a reasonable amount of IGR despite all the odds and unfavourable economic conditions that were prevalent in 2021.

While thanking Governor Emmanuel-led administration for its support and encouragement which have significantly boosted the collective morale and energy to work towards meeting the IGR objectives of the state, Okon called on all the staff to show commitment in order to meet the set target.

TheStar