EIRS Presents Half-Year Report, Assures Of Tax Rebates


Bernadette Idalu
Chairman, Edo State Internal Revenue Service, (EIRS,) Otunba Oladele Bankole-Balogun Esq has assured "Pay-as-you-earn" (PAYE) taxpayers in the state of tax exemptions and rebates in the new financial quarter based on the strength of the new Nigerian Tax Reform Acts, as applicable in Edo State.

Otunba Bankole-Balogun who highlighted on said development on Thursday, July 3, while presenting the EIRS half year report, stated that the new tax reforms came into existence due to the magnanimity of President Bola Ahmed Tinubu who looked into the option of fair taxation as a means of empowerment of low income earners through the provision of tax rebates and exemptions based on his desire to bridge the prevailing economic gulf that exists in society.

Giving the half year performance review report of the EIRS, for quarters one and two (Q1& Q2), based on the inaugural mandate to board members by Governor Monday Okpebholo to ensure the optimization on the state internally generated revenue, in line with budgetary projections, Oladele said the revenue service has been able to achieve positive results.

The EIRS he upheld has been able to generate a half year to date (HYTD) revenue of #52.6B, a figure close to the budgeted sum of #58.8M, which represents a 89.5% performance year-to-date index.

Comparing this record against the gross total realized for last year, within the same months in review, the revenue chief posited that the EIRS recorded a grand total of #36.1B for year 2024; with data showing a 46% increase in revenue performance.

While thanking taxpayers of Edo State- individuals, corporations and government MDAs, whose level of compliance, he maintained, was instrumental to the EIRS success story and the lifeblood of the massive infrastructural and developmental projects currently being executed by the executive arm of government, in the state, Balogun went on to list other achievements.

With the inauguration of the EIRS Board on December 17, 2024, Balogun said the EIRS team has been able to carry out capacity enhancement of staff, partake in regular stakeholders engagements, have an infrastructure upgrade, improve on staff welfare with a robust and strengthened compliance with tax laws.

Ongoing initiatives include use of INNITS as a technical service provider to help with the automation of the tax process; strengthening intergovernmental relations with some state and Federal MDA's for effective service delivery as well as the collaboration with the Judiciary to aid recovery of tax liabilities owed the state. 

Also, is the networking with Verxid to establish "six" one-stop shop driver's license and vehicle administration centres at "Forestry road in Benin, Ekpoma, Auchi, Uromi, Igarra and Ikpoba Okha Local Government Secretariat," amongst other key achievements.

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