Examination of the Trend in Internally Generated Revenue of Kwara State Since 2015.
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Date
2022
Journal Title
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Volume Title
Publisher
KWASU Law Journal 3
Abstract
In response to the call by the Federal Government that States should improve on their internally generated Revenue and not to rely solely on Federal allocation for its sustenance, State governments set up their independent State Internal Revenue Services, different from the erstwhile State Board of Internal Revenue whose staff are drafted from the State Civil Service and who carry their functions lackadaisically. It is with this realisation that the Kwara State Government, in its effort to increase and diversify its revenue base, signed into law on June 22, 2015, the Kwara State Revenue Administration Law 2015 ( Law No.6 of 2015), thus giving birth to the Kwara State Internal Revenue Service, (KWIRS) and abolishing the old Kwara Board of Internal Revenue (KBIR). The State started to witness unprecedented increase in its IGR but suffered a major decline in the year 2020 due to the outbreak of the Covid-19 Pandemic. The State IGR however picked up in 2021 after the pandemic had subsided. This study discovered that while the Kwara State government witnessed about 56 percent decrease in IGR in the Covid-19 Pandemic year, the IGR at the Federal level did not experience a significant decrease when compared to the State this is because the Federal government could still generate revenue through some outlets that are exclusive to it; such as seaports, Value Added Tax and the Telecommunication industry amongst others. The study discovered that increased adoption of technology and steady blockage of leakages within the tax system can be credited for the increase in IGR post covid-19. The paper also discovered that Kwara State introduced some innovations that helped it to generate some revenue during the Pandemic . The Paper concludes that revenue organisations should adhere to global best practices in its revenue generation drive.
Key Words: Internally Generated Revenue, Kwara State Internal Revenue Service
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Citation
KWASULJ 3