Lagos State House of Assembly’s Committees on Finance and Public Accounts has said that the cooperation of eligible taxpayers is crucial to the successful implementation of the state’s 2016 budget.
The House passed the state’s 2016 N662.58 billion Appropriation Bill on December 31, 2015 and Governor Akinwunmi Ambode signed it into law on January 4.
The Chairman, House Committee on Finance, Mr. Yinka Ogundimu, said that the budget performance required both the will of the Executive arm of Government and the cooperation of residents in tax payment.
Ogundimu said, “It requires the government’s will for the budget to have 100 per cent performance of the electoral promises made to the people.
“Since the money is not stored somewhere, it is just expected income. We need to do more on Internally General Revenue.
“If about 52 per cent of the 2016 budget will be financed by the IGR, so there is need for everybody to be able to work hard to re-orientate the people on the importance of paying taxes.”
Also, speaking, the Chairman, House Committee on Public Accounts (Local), Mr Bisi Yusuff, said that the flow of the expected income would determine the success of budget, in terms of implementation.
“If all taxable adults in Lagos State pay their taxes, you could imagine what the state would be getting. We may not even have to depend on the Federal Government anymore,” he said.
Source: Vanguard Nigeria