Daily Trust

Borno generates N8bn in 5 months

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NEWS

Borno Internal Revenue Service (BO-IRS) generated N8.02 billion between January and May this year.

Facebook account that it “collected N4,296,859,669.2 between January and March 2021 despite the associated economic downtime and COVID19.”

The service had in May stepped up enforcemen­t measures and sealed up 10 shopping malls whose owners have allegedly failed to remit withholdin­g tax after receiving notices.

The Head, Legal Services and Board Secretary, BOIRS, Barrister Ardo Buba, said the service was left with no option but to seal up the buildings because the owners failed to remit 10 per cent of their gross rental incomes as withholdin­g tax to it.

“The exercise was in line with the Borno State Harmonised Law on Revenue 2020, as amended. The service decided to make enforcemen­t on collection of withholdin­g tax on rental income in 10 shopping malls within Maiduguri metropolis,” he said.

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