Oyo State Government Sensitizes Traders and Artisans on New Tax Law

Source: Business Day

The Commissioner of Trade , Industry and Investment Cooperative, Mr Ademola Ojo, in Oyo State has stated that the State government is incorporating traders and artisans into the new tax law in Oyo State. He stated that, “Oyo State has one of the lowest tax collection rates. This year, the government intends to ensure that over 47 percent of our budget will come from revenues”.

Ojo added that the state has embarked on the registration of the artisans and traders, saying that this will ease the state’s tax drive from the informal sector.

He added that they stand to benefit a lot from the government in incentives such as grants, loans, and others.

The commissioner also asserted that data collation of the artisans and traders, which is a standard procedure, will erase the issue of double taxation.