Lagos State Revenue Service Leverages Technology to Boost Revenue Generation

The Lagos State Internal Revenue Service (LIRS) has reaffirmed its commitment to leveraging cutting-edge technology and effective advocacy to significantly enhance revenue generation in the state. In a recent interview on The Tax Talk, a public enlightenment television program on taxation, the Executive Chairman of LIRS, Mr Ayodele Subair, discussed the agency's efforts to optimize operations and improve revenue generation.

According to Subair, the introduction of technology during the tenure of President Bola Ahmed Tinubu as the state governor played a crucial role in revolutionizing revenue generation. Subsequent governors, such as Babatunde Fashola, Akinwunmi Ambode, and the current governor Babajide Sanwo-Olu, have continued to prioritize the autonomy of LIRS, resulting in increased effectiveness.

The LIRS recognized the importance of market segmentation and tailored its approach to meet the diverse needs of taxpayers. By analyzing the market and identifying different taxpayer segments, the agency developed strategies to cater to both structured and unstructured environments. This proactive approach ensures that high net worth individuals and various market players receive the necessary support and assistance from LIRS.

Additionally, LIRS undertook a comprehensive process reengineering exercise to streamline operations and eliminate any bottlenecks. This optimization aimed to simplify tasks, reduce complexities, and provide a seamless experience for taxpayers. The agency also invested in human resources, implementing training programs to enhance the skills and knowledge necessary for efficient tax administration.

One of the key technological advancements introduced by LIRS is the e-tax application. This end-to-end tax administration solution revolutionizes the entire process, from registration to tax return filing. Taxpayers can access the application easily, understand its functionalities, and make payments through various channels. The system also enables the generation of tax clearance certificates, providing convenience and efficiency.

In recognition of the informal sector's importance, LIRS developed the IBILE hub software, designed to cater specifically to this segment. The software allows for installment payments, making it easier for informal sector workers to fulfill their tax obligations. By embracing technology and tailoring solutions to different taxpayer categories, LIRS ensures inclusivity and fosters compliance across the board.

Without the integration of technology, LIRS's efforts would have faced significant limitations. However, the adoption of technology-driven solutions has not only improved revenue generation but also transformed taxpayers' experiences. The e-tax application and the IBILE hub software have simplified processes, enhanced accessibility, and increased stakeholders' satisfaction.

Going forward, LIRS will continue to leverage technology, advocate for effective tax administration, and adapt to the evolving landscape to achieve sustainable revenue generation for the development of Lagos State.

Source of content: OOO News 2023-08-24 News

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