General

Oyo Govt Set To Bring Hospitality Businesses Into Tax Net


The Oyo State Government has said its renewed drive to bring hospitality businesses into the tax system is aimed at improving data collection, strengthening security coordination and boosting revenue generation in the state.

The Commissioner for Culture and Tourism Development, Dr Wasiu Olatunbosun, disclosed this at the Oyo State Tourism and Hospitality Conference held at the state Secretariat, Ibadan.

Olatunbosun said the government had identified gaps in the registration and tax compliance of hospitality businesses, noting that the situation was affecting the state’s ability to generate revenue and maintain an accurate database of operators in the sector.

According to him, a significant number of hospitality businesses in the state are yet to register with the appropriate authorities, while some of those already registered are not paying their statutory dues regularly.

The commissioner said the government was engaging stakeholders to address the situation through a structured process designed to ensure that businesses understand their obligations before the commencement of enforcement.

He explained that the conference marked the first stage of a three-part process comprising identification, cooperation and enforcement.

“The engagement is the first of a three-stage process, which includes identification, cooperation and enforcement,” Olatunbosun said.

He added that the enforcement stage would commence next month, urging hospitality operators to take advantage of the ongoing engagement to regularise their businesses and comply with the relevant requirements.

The commissioner also called on operators to submit monthly records of the number of customers patronising their establishments, explaining that the information would help the state develop a more comprehensive database for planning and security coordination.

He said the figures would assist the Oyo State Bureau of Statistics in collecting relevant data on activities within the hospitality industry.

Olatunbosun stressed that the government’s initiative was not limited to revenue collection, but also intended to improve the coordination of activities within the sector and provide relevant information for security purposes.

The engagement brought together stakeholders across the hospitality industry, including hotel owners, lounge operators, nightclubs, eateries and other related businesses.

The interactive session provided an opportunity for operators to engage with government representatives on issues concerning registration, tax compliance, data collection and the administration of the hospitality sector.

Also speaking at the conference, the lawmaker representing Oyo East/Oyo West Federal Constituency in the state House of Assembly, Honourable Olorunpoto Rahman, reaffirmed the legislature’s commitment to supporting the executive arm of government in developing the tourism and hospitality industry.

Rahman said the Assembly was ready to partner with the executive to build a tourism sector that prioritises security, reliable data and a business-friendly environment.

He emphasised the importance of collaboration between government and private-sector operators in creating an enabling environment for businesses to thrive.

The conference forms part of the state government’s efforts to strengthen engagement with hospitality stakeholders and improve the administration of the industry.

With the planned enforcement phase expected to begin next month, hospitality operators are being encouraged to register their businesses, fulfil their tax obligations and provide the necessary customer data to the relevant authorities.

The government’s initiative is expected to improve the availability of information on hospitality businesses in the state, while providing a framework for better coordination between operators and relevant government agencies.


WATCH TOP VIDEOS FROM NIGERIAN TRIBUNE TV



Source link

Leave a comment