By Oladimeji Suleiman
The Kwara State Internal Revenue Services has disclosed that it generated the sum of N19.6bn as the actual collection for the year, as against the N25Bn targeted as contained in the revised budget.
The statement, released on its official website on Friday, further showed a quarterly breakdown of the collections of N7.236Bn in Q1, N2.145Bn in Q2, N4.015Bn in Q3 and N6.227Bn in Q4.
The statement added that the Service had a remarkable Q1 before the Covid-19 Pandemic took full effect on the economy. Due to the lack of physical contact with some taxpayers for collections, as well as the lockdown, there was a huge dip in revenue generated in Q2, which extended to Q3, 2020. By the last quarter of 2020, there was a substantial recovery from the crippling effect of the Pandemic on the business and the internally generated revenue.
It should be noted that despite COVID-19 lockdown, the performance is above 75%, which could be regards as a pass mark, considering the downturn in the economics and business activities in the State and all over the country.
