Tax Reforms ‘ll Boost Osun Economy – Gov Adeleke

By Nana-fridaus Abdulwasiu

Osun State Governor, Ademola Adeleke, has said new tax acts aimed to boosting the state’s economy.

The governor, who was represented by the Secretary to the State Government, Teslim Igbalaye, at a-three-day retreat on the implementation of the new tax acts said the reforms are designed to promote fairness, expand the tax net, and improve compliance.

He said that taxation remains the most consistent source of public revenue for the government, adding that functional tax system is therefore central to good governance.

According to him “Our approach to tax reform is deliberate and people-centred. The new framework is pro-business and investor-friendly. It recognises the role of small and medium-scale enterprises in driving growth and job creation. It also provides a structured pathway for bringing the informal sector into the formal economy in a gradual manner that is fair and supportive.”

Speaking, the Special Adviser to the Governor on Tax and Revenue Affairs, Engr. Kamorudeen Ajisafe said the engagement was targeted at enlightening public workers, citizens and business owners in the State on the provision of the new tax law and also know their responsibilities to the government.

He charged residents and business owners to steer clear effort to evade tax, saying the new tax law already protect poor and low income earners.

Also speaking, the acting Executive Chairman, Osun Internal Revenue Service, Solanke Hamzat disclosed that the new tax law is pro masses, saying everyone qualified for exemption would not be exploited.

He, therefore, charged residents of the State to take compliance seriously, not just in the interest of the State but for the future generations that would require infrastructure development for their well-being.