Oyo Government Moves To Bring Hospitality Businesses Into Tax Net, Strengthen Security

Oyo Government Moves To Bring Hospitality Businesses Into Tax Net, Strengthen Security
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‎The Oyo State Government has announced plans to bring all hospitality businesses in the state into the tax system as part of efforts to improve data collection, boost revenue generation and strengthen security coordination across the sector.
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‎The state Commissioner for Culture and Tourism Development, Dr. Wasiu Olatunbosun, disclosed this at the Oyo State Tourism and Hospitality Conference held at the Secretariat, Ibadan.
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‎Olatunbosun said a large number of hospitality operators in the state were yet to register with the government, while some registered businesses were not remitting their dues regularly, a situation he said was negatively affecting the state’s revenue generation.
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‎According to him, the government’s renewed engagement with stakeholders is the first phase of a three-stage process comprising identification, cooperation and enforcement.
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‎He explained that the enforcement stage would commence next month, urging hospitality businesses to take advantage of the ongoing engagement and comply with the requirements of the state government.
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