Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Lagos State generates an incredible IGR of N276billion in 2014

Nairametrics by Nairametrics
April 16, 2015
in Uncategorized
What The Recent Supreme Court Judgement On Tourism Means For Hotels, Restaurants, Bars & Event Centres In Lagos State
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

20 Financial Terms You Need To Know In The Stock Market

The Lagos State government said its monthly Internally Generated Revenue (IGR) has increased from a monthly average of N20 billion in 2013 to N23 billion in 2014. The Chairman, Lagos State Internal Revenue Service (LIRS), Mr. Tunde Fowler, who spoke yesterday while addressing reporters in Lagos, reeled out the following stats which we found interesting.

  • The government said it had captured no fewer than 300,000 new tax payers in its tax net in the last one year.Fowler said those who are tax compliant in Lagos state are now 4.5 million up from 3.8 million in the previous years.
  • Tax payers rose from 2.7million in 2011 to 4.5million taxpayers presently; this is a significant leap and government commends residents for voluntarily and promptly paying their taxes.”
  • He said: “The high months of collection are usually in April, May and June. These are the months when companies declare dividends and staff go on leave and they get their leave allowance.
  • “In terms of our actual collection, we didn’t increase in IGR. In 2013 we had approximately N236 billion while in 2014 it was N276 billion. So we went from an average of N20 billion in 2013 to an average of N23 billion.  And that was one of the things that have kept the state working.
  • “The informal sector is yet to pay taxes and some of these people get paid for their services. And they are about three million people in the state. The objective of taxation is to distribute wealth.”
  • The chairman said 626 tax defaulters were dragged to court with a total liability of N11.6 billion while 376 succeeded in obtaining a restraining order and a liability of N8.1 billion, while adding that  N728 million was however recovered through court processes.
  • “We filled 686 cases at the state high courts at the beginning of the year with a total liability of about N11.6 billion. Out of which 376 cases we received restrain orders on. And this amount to liability of about N8.1 billion. Of this, they have paid N771 million.

 

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • TrustBanc raises N5.85bn from Series 7 and 8 Commercial Papers; Issue Achieves 117% subscription
    • FIRS extends deadline for filing of 2022 Companies Income Tax returns to 31st August 2022
    • Lagos state government shuts down Redeemers School over death of pupil

    Follow us on social media:

    Recent News

    TrustBanc pays N4.2bn Commercial Paper proceeds at maturity

    TrustBanc raises N5.85bn from Series 7 and 8 Commercial Papers; Issue Achieves 117% subscription

    July 4, 2022
    FIRS calls for comprehensive revenue aggregation

    FIRS extends deadline for filing of 2022 Companies Income Tax returns to 31st August 2022

    July 4, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com