Lagos State Eyes N200 Billion Annually by Taxing Remote Workers

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Lagos State is set to implement a groundbreaking plan aimed at generating N200 billion annually by broadening its tax base to include remote workers and utilizing digital technologies for improved revenue collection. This initiative is part of the state’s strategy to boost its internally generated revenue (IGR).


According to a report by Nairametrics, this ambitious plan will be detailed at the upcoming EKO Revenue Plus Summit, scheduled for September 25th and 26th, 2024. The summit, themed "Unlocking New Revenue Streams for Lagos State," will outline how the state aims to generate N5 trillion in IGR from four key sectors.


One of the primary sectors targeted is the digital economy. Lagos State plans to introduce a Resident Global Digital Citizen Tax Management System. This system will focus on taxing remote workers, foreign companies, and digital influencers. It will also involve accrediting and licensing digital economy operators, supported by an e-Portal, Market Place, and Recovery Platform.


The initiative's budget is estimated at N250 million, covering portal development, data mining, partnerships, stakeholder engagement, and communication efforts. The state expects to collect N200 billion annually from approximately two million individuals working in the digital sector.


Governor Babajide Sanwo-Olu's administration aims to achieve N5 trillion in IGR through this comprehensive and innovative approach. The plan includes leveraging technology, enhancing tax administration, expanding the tax base, and exploring new revenue streams, especially in non-tax areas, while optimizing existing processes.


The EKO Revenue Plus Summit will serve as a platform for discussing these strategies and setting the stage for their implementation, marking a significant step towards Lagos State's economic growth and sustainability.

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