Cross River State Government on Monday during a joint press briefing by Ministry of Finance and Cross River State Internal Revenue Service at New Secretariat Complex Calabar unveiled a structured Tax Relief and Incentive program for Taxpayers and Business Enterprises aimed at mitigating the adverse economic effects of the coronavirus pandemic in Cross River State.
Disclosing the list, the Executive Chairman of Cross River State Internal Revenue Service, Mr Akpanke Ogar said the regime of tax incentives has been provided by the State Government under the leadership of Senator Prof Ben Ayade as one of the many avenues to cushion the impacts of the novel Covid-19 pandemic now ravaging most parts of the world and Cross River State.
According to him key contents of the package were developed with the extensive participation of various Taxpayers segments and other stakeholders who have prioritised the areas of intervention required from government.
In his welcome remarks, the State Commissioner for Finance said the State Governor Senator Prof Ben Ayade has thought it expedient to come up with economic policies and measures to forestall economic hardship and cushion the effect of the pandemic. He stated that the tax and levy abatements cover specific time periods with the expectation that the optimistic expectations that the economy will uptick from Q1, 2021.
The tax relief includes but not limited to:
1. Tourism Dev. Levy – 100% relief from Feb-Nov 2020.
2. Entry gate pass – 100% relief from Feb-Dec 2020.
3. DOPT daily, interstate, operational tickets – 100% relief from Feb-Dec 2020.
4. DOPT fines & offences – 100% relief from Feb-Dec 2020.
5. Business rates for all shops – 100% relief from Feb-Dec 2020.
Further information on the comprehensive schedule of the tax reliefs & abatements are available on the Revenue Service’s official website: www.crirs.ng