The Oyo State Internal Revenue Service was established under the Oyo State Internal Revenue Board Law of October, 1995 and replaced by the Revenue Administration Law of 18th August, 2015. Earlier it has existed as Oyo State Board of Internal Revenue under the Ministry of Finance.
The OYSIRS was established by Section 3 of the 2015 law and the service superintends over all Internally Generated Revenue of the Oyo State Government (OYSG) as well as co-ordinate and account for all revenue in the form of taxes, levies, fines, fees and penalties due to the government from MDAs under the relevant Federal and State laws.
The Board shall consist of the following members:
- The Head of the State Internal Revenue Service shall be the Chairman, being a person experienced in taxation and revenue matters who shall be appointed by the Governor;
- Three persons nominated by the Commissioner on their personal merit and approved by the Governor;
- The Directors and Heads of Department within the State Internal Revenue Service;
- A Director from the State Ministry of Finance, nominated by the Commissioner;
- The Secretary, who shall be an ex-officio member to the Board shall be appointed by the Board from within the Internal Revenue Service;
- A representative of the Ministry of Justice as the Legal Adviser;
- A representative of the Ministry or arm of government however designated, responsible for Lands and Housing not below the rank of Assistant Director.