Edo State Governor, Comrade Adams Oshiomhole has described Internally Generated Revenue (IGR) as the most reliable source of revenue if the nation is to graduate from overdependence on crude oil.
Comrade Oshiomhole made the remark when he declared open the 129th meeting of the Joint Tax Board (JTB) in Benin City with the theme “Imperative of Exchange of Information among Tax Authorities”.
The State Governor whose message was read by the Deputy Governor, Rt. Hon Dr. Pius Egberamwen Odubu noted that from prevailing economic realities, the onus is on governments at all levels to explore alternatives of generating revenue to realize their social and economic development.
Governor Oshiomhole said the importance of exchanging information among tax authorities cannot be over emphasized as it facilitates the curtailment of uncivil propensities such as tax avoidance, inter-state tax evasion and other practices which border on fraud.
The Chairman, Joint Tax Board, Kabir Muhammad Mashi said the exchange of information forms the key to improving the ability of tax authorities to identify and register tax payers, widen the tax payers net, asses taxpayers and ensure compliance.
The JTB Chairman said the 2-day forum will enable the tax authorities to confront non-compliance, tax evasion and other practices which lead to revenue leakages.
The Executive Chairman of the Edo State Internal Revenue Service, Chief Sir Oseni Elamah said that the state government places a high premium on the role of taxation in ensuring good governance and the activities of the Joint Tax Board (JTB).
Chief Elamah stated that the JTB is the apex body of tax administration in Nigeria with the purpose of ensuring that the purpose of ensuring that “our role in the overall tax administration framework is clarified and put in the context of what we seek to achieve”.
While describing this year’s theme as apt, Chief Elamah said the theme “will no doubt impact positively on tax practices and administration among the various tax authorities as exchange of information would not only educate and equip tax authorities on basic taxation principles that are germane to the performance of their functions”.
Earlier when the JTB came calling in Government House, the Deputy Governor, Pius Odubu remarked that the state government relies heavily on IGR to meet its obligation to the people.
He stressed the need for the exchange of ideas and information in order to achieve a seamless relationship amongst various states and FCT.
High point of the ceremony was the visit to the Benin Monarch, HRM Oba of Benin and tour of the various completed and on-going projects of the state government.