The Kwara state Internal Revenue Service (KW-IRS) on Monday assured taxpayers in the state of its commitment to discharging its mandate seamlessly and continuing to ensure adequate revenue mobilization for the socio-economic growth and development of the state in accordance with global best standards.
The revenue agency in a statement issued in Ilorin and made available to Team@orientactualmags.com by its Executive Chairman, Mrs. Shade Omoniyi emphasized the importance of tax compliance while giving the high net worth individuals poor marks.
‘Our Tax payers are once again, reminded that in accordance with Section 54 (1) of the Personal Income Tax (PITA) 2011 as amended, which mandates every taxable person in the state to be assessed individually upon the expiration of the time allowed to file a return as mandated by Section 41 of the Act, we are not allowing the payment of Personal Income Tax (PIT) or its equivalent through any existing or prospective associations, unions, or umbrella group(s) representing artisans or business owners.
We observe the improved level of tax compliance in the state and the growth in the number of taxpayers over the years, especially among the low-income earners. We truly appreciate our stakeholders for their continued support and commitment to the revenue drive in the state.
Nevertheless, the Service has observed that compliance level is low for some of the High–Net-Worth Individuals (HNIs) within the state.
Taxpayers, particularly HNIs, are reminded of their right to submit objections to the assessment presented to them as stated in Section 58 of the Personal Income Tax Act (PITA) 2011 (as amended by the Finance Acts 2019 and 2020), which is then subject to reviews.
We implore taxpayers to pay all tax liabilities and file needed tax returns using avenues provided. This is particularly important as the ongoing enforcement exercise on tax defaulters continues across the state along with lawful penalties.
We also wish to state that the avenue to file Individual Annual Tax Returns is still available to the public and can be done seamlessly on the KW-IRS Self-Service Portal via selfservice.kwirs.com between now and 31st March 2024′ the statement added – Team@orientactualmags.com
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