The Acting Executive Chairman, Imo State Internal Revenue Service (IIRS), Mr. Justice R. Okoye and his team paid a courtesy call to the Vice Chancellor of Imo State University (IMSU) on Friday 20th September 2024.
The IIRS Chairman thanked the Vice Chancellor and the senior staff present for the successes achieved in the institution and Imo State at large, which are in line with the mandate of His Excellency, Distinguished Senator Hope Uzodimma.
Mr. Justice cited ways through which the Institution can assist in increasing the Internally Generated Revenue (IGR) such as Withholding tax on contracts, PAYE remittance for contract staff, making Tax Clearance Certificate (TCC) a prerequisite for admission and clearance.
The VC, Prof. Uchefula U. Chukwumaeze welcomed the IIRS team and pointed out that the institution is unique in terms of growth and development. He said that most of the contracts are carried out by TETFUND and added that the Institution has been tax compliant.
He added that Staff PAYE is deducted from source and paid to the TSA. He also said that the few contract staff are paid stipends and expressed difficulties experienced in expenses on running costs.
The VC appealed that TCC should not be made a prerequisite for admission and clearance, but that parents and guardians should be made to understand the benefit of getting it. He assured the IIRS Chairman that IMSU will assist in the sensitisation on importance of TCC and being tax compliant.
In response, the IIRS boss thanked the VC for his hospitality and sincerity.
He said making TCC a prerequisite will not stop admission processes, but would drive tax compliance.
He acknowledged the difficulties encountered by the Institution and informed the VC of the new tax management solution system being deployed for efficient and effective tax payments which will help solve some of the difficulties faced.