The half-year review of the Internally Generated Revenue (IGR) of the Imo State Internal Revenue Service (IIRS) has revealed clear progress in the revenue drive of the State government.
This indication shows a percentage rise of 21.5% in the IIRS-driven revenue of the state from January till July 2022 compared with the same period in the preceding year, 2021.
This development is particularly noteworthy because it excludes the PAYE of the Imo State Civil Service and the Federal Ministries, Departments and Agencies (FMDAs) PAYE.
It is also important to note that this progress is regardless of the relative economic doldrums brought about by the now eased weekly sit-at-home that started July 2021.
Another index for consideration is the ongoing industrial action by members of the Academic Staff Union of Universities (ASUU) which affected both economic and academic activities in the state university since February, 2022.
In the immediate, the service envisages a strategic growth in the IGR through the full deployment of technology in the administration of processes in areas such as Motor Vehicle administration, markets daily collection, and aggregated billing systems for all collections in the state (Harmonised Central Billing System).
The service expects that this will not only guarantee the voluntary compliance of taxpayers but also establish probity, transparency, and accountability in the system as the IIRS takes full oversight of all revenue collecting agencies within the state as part of its statutory role.
The Service is also working on the development of new service units to harness less active revenue subheads that had been dormant over the years.
