OGIRS Reduces Direct Assessment Tax on Stamp Duty

The Ogun State Internal Revenue Service (OGIRS) has reduced the direct assessment tax payable on stamp duty from 17 to 12 percent, in order to encourage taxpayers and boost revenue generation.

The Executive Chairman, OGIRS, Mr. Olugbenga Olaleye disclosed this at the 2021 Second Quarter Revenue Performance Review of the agency at its headquarter in Abeokuta.

Olaleye said the reduction was to make Stamp Duty process affordable for taxpayers and increase revenue generation, urging the people of the State to embrace the opportunity and see it as a gesture from the State government.

In his remarks, the Special Adviser to the Governor on Revenue, Mr. Jide Sanwo enjoined all Zonal Coordinators and Tax Office Managers to effect the percentage reduction on their work templates.

He charged them to work harder in their various beats, in order to achieve the targeted revenue figure of N75B in 2021.