Lagos revenue portal will promote fiscal prudence – CITN

The Chartered Institute of Taxation of Nigeria (CITN) has applauded the recent  launch of Lagos State Revenue Portal (LRP) by the government, saying the initiative would not only “promote revenue reporting and accounting but fiscal prudence and enhancing the delivery of democratic dividend to the populace.” The CITN also said the initiative is critical to […]

The Chartered Institute of Taxation of Nigeria (CITN) has applauded the recent  launch of Lagos State Revenue Portal (LRP) by the government, saying the initiative would not only “promote revenue reporting and accounting but fiscal prudence and enhancing the delivery of democratic dividend to the populace.”

The CITN also said the initiative is critical to engendering confidence in the fiscal management and governance practices of the State Government, particularly revenues generated internally.

The 16th President/Chairman of Council, Samuel Agbeluyi, in a statement, said the LRP also has potentials of improving tax and other regulatory payments compliance levels as simplifying the process would result in improved revenue collections for the State.

“The situation prevalent in most states is that multiple agencies approach taxpayers and business owners with multiple bills which creates a burden of compliance and increases the cost of doing business. This leads to revenue loss and low collections.

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“The LRP aggregates all these bills under one platform for ease of payments and administration thereby enhancing the process for the taxpayer and the government,” he said.

He urged other sub-nationals within the federation to take cue from this novel initiative by the Lagos State Government and other states that have embarked on similar schemes.