In view of the declining revenue from the centre as a result of fall in the price of crude oil, Ogunsanwo revealed that LIRS is poised to focusing on other revenue sources such as Consumption Tax from Hotel Occupancy, Withholding Tax on Contracts, Rent, Royalties and other areas to shore up the Revenue in the State. Speaking at the event, the State Attorney General and commissioner for Justice Mr.NijiKazeem said the administration of GovernorAmbode had put in place necessary measures to end the era of tax evasion and indeed avoidance in the state, adding that taxavoiders and evaders would be aggressively pursued in line with the provisions of the law.The Commissioner, who disclosed that the Ministry of Justice had established a Rapid Tax Prosecution Unit to aid the Lagos Internal Revenue Service (LIRS) in its drive to collect taxes, added that the unit would work closely with the Revenue Courts, which the Chief Judge of Lagos State recently agreed to set up. The Commissioner for Finance, Mr. Mustapha Akinkunmi said in the light of the reduction of federal transfers to States including Lagos, the State government was looking inwards to secure sustainable ways of increasing its revenue profile and plugging leakages in the system. Other critical stakeholders in attendance at the well attended press conference were President, Chartered institute of Taxation of Nigeria (CITN), Mrs Olateju Somorin,Vice president, Lagos State Chambers of Commerce and Industry (LCCI), Mrs. Agnes Shobajo, representatives of Association of professional Bodies of Nigeria (APBN), Manufacturers Association of Nigeria (MAN), Market Men and Women Associations of Nigeria, Nigeria Association of Small and Medium Enterprises (NASME) among others. Signed Monsurat Amasa Head, Corporate Affairs
Lagos State Internal Revenue Service (LIRS |