LAGOS STATE INTERNAL REVENUE SERVICE TARGETS 1 BILLION NAIRA MONTHLY CONSUMPTION TAX WITH E-PAYMENT

The Lagos State Internal Revenue Service (LIRS) has deployed an electronic payment remittance platform aimed at increasing monthly consumption tax revenue to 1 billion naira.

Executive Chairman of Lagos State Internal Revenue Service, Ayodele Subair, explained that the remittance system is aimed at helping in the various sectors such as the hospitality sector, restaurants, events centres, and night clubs and bars, and have access to all transactions irrespective of their location.

He stated that last year, the revenue service got between 200 million and 250 million naira every month, but anticipated that before the end of this year, they will be looking at 800 million to 1 billion naira with the application of this technology.

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