Lagos State generated N120bn from tax in six months between January and June this year, Punch reports.
The Executive Chairman of the service, Mr Tunde Fowler, told the News Agency of Nigeria in Lagos that 90 per cent of the taxes were generated from the organised private sector and civil servants.
Fowler said that the remaining 10 per cent came from the informal sector, mostly market women, artisans, commercial drivers and taxable individuals in the state.
Lagos State gets a huge chunk of its internally generated revenue from personal income taxes paid by employees in the private public sector. They are the guys who make the state thick.
Lagos State relies on Internally Generated Revenue to implement its budget following the dwindling statutory allocations. This figure is only going to get bigger as the effects of the new tax law and their aggresive tax drive continues to sip through the private sector.