A new law guiding tax policy and revenue generation will soon be in operation in Ekiti State sequel to the passage of the Board of Internal Revenue Service bill 2019 into law by the state House of Assembly.
The Assembly had during its plenary last week adopted as a working document, the report of the Committee on Finance and Appropriation, with respect to the operation of the state revenue board.
The committee chairman and the lawmaker representing Emure constituency, Hon. Olubunmi Adelugba, had during the submission of the report on Monday reeled out the recommendations, saying the new law would engender collaborative efforts among stakeholders through effective tax-control system and formation of better policy for revenue generation in the state.
Passing the bill into law through a voice vote, the speaker, Hon. Funminiyi Afuye, praised the committee for doing a great job, saying Ekiti needed to look inwards at this challenging time and generate more money in view of the dwindling revenues from the Federal government.
The committee chairman, Adelugba, had said, the new law as contained in the committee’s report would engender collaborative efforts among stakeholders through effective tax payment for more revenue that will be in the overall interest of the residents.
“It is high time the state enhanced its economic growth to realise the agenda of Governor Kayode Fayemi’s administration by opening up the state to economic activities and investments through robust tax policy for more revenues.
“The proposed law would have direct and indirect impacts on the citizens and make individuals live above poverty. It would also serve as a veritable tool to making government more committed to human capital development.”
Adelugba, who is also the Chief Whip, also called the attention of the House to flooding being experienced in some towns, especially in Emure community since the commencement of the raining season.
The lawmaker called on the government to find an urgent and lasting solution to the threat, which has been affecting the security of lives and property as well as the economic activities of the people.