CITN Applauds LASG for New Revenue Portal

Omolabake Fasogbon

The Chartered Institute of Taxation of Nigeria, (CITN) has endorsed the new Lagos State Revenue Portal (LRP), foreseeing increased revenue generation and dividends for the masses. 

President of the institute, Samuel Agbeluyi in a statement disclosed further that the tech-driven initiative will set transparency standards and discourage foul practices. 

According to him,the LRP has potential to improve tax compliance,  promote fiscal prudence and smoothen Lagos Revenue Administration Process.

He noted that the prevailing tax system in most states was such that encourage multiple agencies to approach taxpayers and business owners with multiple bills. 

He worried that this approach creates a burden of compliance and increases the cost of doing business. 

“This leads to revenue loss and low collections”, he stated. 

Describing the initiative, he said, “The portal aggregates multiple bills under one platform, easing the payment and administration process for both taxpayers and the government.  This will facilitate ease of doing business, monitoring of revenues, strategic decision-making and will promote a professionalized and efficient revenue administration regime,” he asserted. 

He encouraged other states to adopt similar initiatives, noting that it would enhance taxation and deepen public trust in government.