My assent to revenue law will boost Imo economy – Uzodinma

My assent to revenue law will boost Imo economy — Uzodinma
Hope Uzodinma

By Chinonso Alozie – Owerri

The Imo state governor Hope Uzodinma, on Thursday said that he assented to the amendment of the Imo State Revenue Administration Law 2020, to channel 95 percent of the Internally Generated Revenue, IGR, directly to the coffers of the government.

Uzodinma, spoke at the Government House in Owerri, while he was signing into law the amended 2020 Imo state revenue administration law.

He pointed out what the law looks like hitherto, “Before now, the law provides for consultants that collect 10% of the total revenue, 10% goes to the Board of Internal Revenue (BIR), 20% to ENTRACO and 10% to OCDA.

READ ALSO: Uzodinma to plan welfare package for Judicial officers in Imo

“At the end of the month, 50% of the IGR is gone, leaving the state with only 50% of the internally generated revenue collected. This is in violation of the provisions of the 1999 constitution as amended.”

But with the signing into law it was Uzodinma’s thinking that “This  amendment will empower the Board of Internal Revenue to spend 5% of the Internally Generated Revenue (IGR) for the payment of salaries of their workers and other personnel services. This expenditure, the governor said, will be subjected to appropriation by the State House of Assembly.

“With the amendment, the state now stands to gain more as 95% of the total IGR will go directly to the state coffers as against the 50% which was the old order.”

Adding his voice, the speaker of the Imo state House of Assembly, Chiji Collins, said: “We have enough manpower to do the job. What we agreed with the Executive is to allow the Board of Internal Revenue takes 5% of the revenue generated.

“Which will be used for salaries and personnel cost of the agency with appropriation that will come from the House of Assembly before the fund will be used. With this, it will help to boost the economy of the state.”


The post My assent to revenue law will boost Imo economy – Uzodinma appeared first on Vanguard News.

Akahi News Recommends This Source Link For Details


Links: 1. OAU School of Nursing 2. OAU JUPEB 3. OAU Pre-Degree 4. OAU Post-UTME 5. NYSC Registration Centres 6. School of Nursing Past Questions 7. Questions from JAMB-Sweet Sixteen 8. Latest School News 9. Download Latest Music 10. Call Akahi Tutors - 08038644328

Categories: FORUM, Latest News

Tagged as: Vanguard