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We’ve Reformed, Harmonised Tax Systems in Ogun, Says Abiodun

We’ve Reformed, Harmonised Tax Systems in Ogun, Says Abiodun

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By Kayode Fasua

The Ogun State Governor, Prince Dapo Abiodun, yesterday revealed that his administration had carried out several tax and financial reforms to eliminate bottlenecks and enhance the ease of doing business in the state.

The governor stated this in Lagos while speaking at the investiture of Mrs. Olujumoke Eyitayo as the President of Institute of Chartered Accountant of Nigerian (ICAN), assuring the people that the state under his watch has reformed and harmonise the tax system as well as levies in order to eliminate multiple taxation.

Noting that the state government is in partnership with the private sector on many fronts, Abiodun explained that the focus of his administration is premised on the ‘ISEYA’ mantra, which stands for Infrastructure, Social Wellbeing, Education, Youth Empowerment and Agriculture.

He added that the tax reforms would make the tax regime very transparent and provide for online payment and filling of tax returns.

According to him, “We have also implemented the International Public Sector Accounting System (IPSAS), the TSA system, and Billing and Payment Management System (BPMS) as part of reforms of our financial system.”

The governor listed other elements of the financial reforms to include adoption of the Medium Term Expenditure Framework (MTEF), the Medium Term Revenue Strategy (MTRS) and the establishment of the Fiscal Responsibility Commission.

All these, he explained, were to ensure prudent financial management and the efficient allocation of government resources to provide long term stability for the economy.

“We’ve also introduced the Bureau of Statistics, and employed the first Statistician-General in the state to arm the state with accurate financial and economic data,” he hinted.

Abiodun lauded ICAN for its contributions to national development, saying the professional body has continued to set standards for accounting practice.

He further observed that the new ICAN president’s brilliant antecedence while chairing different committees of the professional body stood her out for the current position.

In his speech, the Governor of Lagos State, Babajide Sanwo-Olu, who was represented by the state Commissioner for Finance, Mr. Rabiu Olowo, also commended the body for upholding the standard and professional ethics in both the public and private sectors, noting that the election of Eyitayo was a befitting reward for her many years of contributions to the Institute.

While noting that his administration was open to new ideas, Sanwo-Olu said it was time for all hands to be on deck to address the many challenges facing the country, expressing the hope that the mutual relationship between Lagos and the Institute would be sustained.

In a her acceptance speech, Eyitayo said her investiture marked the fulfillment of a dream which spanned more than 40 years ago, adding that she was ready to serve with dignity and honour to reposition the profession which would be a pride to all professionals

Source: https://www.thisdaylive.com/index.php/2021/06/02/weve-reformed-harmonised-tax-systems-in-ogun-says-abiodun/

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