The Nigeria Governors Forum (NGF) on Monday launched a public finance database that allows citizens to easily filter and analyze state financial data and information.

The 8th NGF IGR Peer Learning Event in Abuja marked the launch of the first reference database of state-level public finance data, demonstrating the Forum’s commitment to fiscal transparency and accountability and the governance of the country. The determination to strengthen was reiterated.

Ekiti Governor and NGF Chair Kayode Fayemi said in a speech that the database understands the need to build greater accountability, especially to show citizens the link between taxes and service delivery. said.

Fayemi, represented by Nasarawa Governor Abdullahi Sule, said this would require an end to the proliferation of taxpayer identification numbers and databases, and a need to seek harmonization leveraging the global best practice of unique identification numbers. I was told there is.

The NGF chairman affirmed that for them to achieve this, information sharing must be seamless between jurisdictions, not only between levels of government, but also between and within states.

He said the Forum is working with the Revenue Service and other MDAs to expand service tax initiatives that reward compliance while ensuring citizens know where their tax dollars are spent each year.

Faemi said their renewed efforts need to take into account the new dynamics surrounding individual incomes in Nigeria today, including rising inflation, structural changes in employment and commerce. , due to technological advances in investment, etc.

Also read: Peter Obi accuses government of rampant oil theft

He said the forum must occasionally respond to a rapidly changing tax environment with policies to stay ahead of tax evasion and evasion tactics beyond the laws and regulations they have passed.

Fayemi noted that they recognize the need to support the Internal Revenue Service and continue to provide the political support and financial resources they need to effectively carry out their mandate.

For one thing, today’s events evoke feelings of nostalgia: the joint decisions we made in 2019 as Governors to ponder reforming our tax administration to be more efficient and effective. Consensus reform was focused on ending multiple taxation. Professionalization and modernization of revenue services. Embrace a taxpayer-centric culture that facilitates taxpayer compliance and strengthens existing social contracts.

“This agreement gave birth to the National Action Plan for Revenue Generation (SAPRG). Today, we will examine the progress of its implementation to see what has worked and how the tax environment and controls will enable us. It is intended to highlight what needs to be improved in order to promote optimizing your earning potential as a local company.

“Our quest to do things differently benefits from the relentless efforts of state authorities, technical assistance programs within the Secretariat, and the support of our partners.

“With your cooperation and support, we have continued on the path of implementation and achieved the far-reaching reforms that have brought us to where we are today.

“The state’s total IGR will increase from NGN 1.31 trillion in 2019 to NGN 1.67 trillion in 2021, and the proportion of IGR (as a percentage of total recurring income) will increase from 31% in 2019 to 35% in 2021. doing.

“This is good progress, but given the FAAC’s declining revenues, we must not lose sight of the need to maintain and advance reform momentum.

“I would like to encourage the Joint Tax Board (JTB) to pursue plausible solutions to this extraordinary situation.
In terms of strengthening the public legitimacy of tax collection, we have improved the transparency of not only tax revenues but also the national treasury as a whole.

“I am optimistic about the tax reform journey and believe we can achieve a lot, even in a time when some of us have left. As a body, we trust those after us to continue with these reforms and many others if they are necessary to ensure the financial sustainability of our state. ” he said.

mega millions

Source link

By admin

Leave a Reply

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