Sokoto State government in partnership with USAID Nigeria State Accountability, Transparency and Effectiveness (State2State) Activity, to develop a set of revenue codes to ensure transparency in the state revenue generations.
Speaking in his remarks while addressing participants at the two day workshop in Dankani Guest Palace Hotel, Sokoto, on Wednesday, Mr Akinsanya Niyi, a tax consultant for State2State, said the aims of the workshop is to bring the state at par and to global best practice in treasury single account.
He said developing a set of Revenue Codes into a chart of accounts isnecessary to meeting up with global best practice in Treasury Single Account (TSA) operational system.
“The Chart of Accounts will be used in the preparations of Budget, Assessment, Accounting and Reporting Systems of the State and Local Government Revenue profile”
He however called on participants drawn from various MDAs and departments involved in the workshop to ensure proper codes in assigned to each revenue generating agency in order to ensure proper accountability.
Also speaking, Umar Yusuf Ibrahim, the HR officer of the Sokoto State internal revenue agency, said the workshop is aimed at having a review in the revenue codes and rate in the state.
He said the current code in use has been their for over a decade, thereby needs to be updated so as to include some revenue that was not captured in the previous codes as well as expand the codes.
“We are also looking at the rate at which those revenue are being collected to determine which one to be increase or reduce as the case may be.
“It is a very important programme which will give each MDAs the appropriate representation and unique code to enable every revenue generating agency known what they generate”.
He further explained that in line with the provisions of section 24 (3) of Sokoto State, Revenue Integration and Consolidation Law 2019, Revenue code will provide basement for integrated tax administration system across the state MDAs.
Source: Zawya
