Oyo Reminds Business Owners of Importance of Tax Payment

By Modupe Gbadeyanka

Business owners in Oyo State have been reminded of the importance of tax payment as it is one of the ways the government create wealth and boost a business-friendly environment.

The Commissioner for Information, Culture and Tourism, Mr Wasiu Olatunbosun, while speaking over the weekend at the launch of new businesses in Ibadan, said the payment of tax, as at when due, would increase the internally generated revenue (IGR) of the state.

The Commissioner further stated that the state government’s concerted efforts to block revenue leakages have started yielding positive results, adding that the state’s position in the ranking of states with the highest IGR is an attestation to Governor Seyi Makinde’s efforts to boost revenue for effective service delivery.

He said the state government will not stop to enlighten its citizenry on the gains of paying taxes, adding that payment of tax by businesses will ease the execution of infrastructural facilities within the state.

Mr Olatunbosun urged business operators in the state to pay their taxes directly into Oyo State Government specified account and obtain receipt or teller, stressing that governance in Oyo State was in the good hands.

Speaking further, he noted that the policies of Governor Makinde’s government have contributed to the ease of doing businesses in the pacesetter state, adding that the government was progressing in its development agenda for its residents and has blocked leakages.

“Oyo State Government has shaped tax policies in a way that encourages and supports the growth of the informal sector of the economy. We are quite aware that multiple taxes affect micro and small enterprises negatively and we have made efforts to eradicate it,” he said.

Mr Olatunbosun said the state government was excited to welcome brands like McEnies, Perfect Clicks and Ruby Models, a three-in-one conglomerate with over 15 years of experience in building multinational brands, to Ibadan.

Speaking earlier, the CEO, the Integrated Three Business in one, Ms Omolaraeni Olaosebikan said her relocation to Ibadan was a testament that the megacity is a journey of destiny for her and her businesses.

Launch of her three-in-one business; McEnies, Perfect clicks and Ruby Models was witnessed by business moguls and experts in the Public Relations (PR) sector.