The Chartered Institute of Taxation of Nigeria (CITN) has commended the Lagos State Government for the launch of the Lagos State Revenue Portal (LRP), saying the initiative will increase revenue accountability and reporting transparency.
In a statement signed by the CITN Chairman and Chairman of Council, Mr. Samuel Agbeluyi, the institute reiterated that the initiative is crucial in building confidence in the financial management and governance practices of state governments, particularly Lagos residents’ internal revenue and government financial resource management capabilities.
The launch of the portal is technology-based and is aimed at streamlining the tax administration process in states, which is likely to lead to improved compliance with taxes and other statutory payments as streamlining the process will translate into increased revenue for states.
“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.
“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. We urge 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.”
CITN noted that the initiative will not only promote revenue reporting and accounting but also fiscal discipline and the delivery of democratic dividends to the people.
The institute stressed that the initiative is a development that will bring tax collection in line with global best practices, facilitate business transactions, revenue monitoring, and strategic decision-making, and promote a professional and efficient tax administration system.
“We urge government at all levels to continually evolve measures to engender confidence in its activities to build trust with the populace” the statement continued.
