Cross River State Government Unveils Covid-19 Tax Palliatives

In Breaking News, Business & Economy

By CrossRiverWatch Admin

The Cross River State Government has announced a package of relief and incentives for individual taxpayers and businesses in the State, following an approval by the Governor, Sen. Ben Ayade.

The Commissioner for Finance, Asuquo Ekpenyong, in a statement explained that the relief package in the form of exemptions would cover the period from February – December 2020.

While breaking down the incentives, the Executive Chairman, Cross River Internal Revenue Service, CRIRS, Akpanke Ogar, stated that individuals in the public sector (under the Pay-As-You-Earn scheme) earning less than N100,000 are granted tax relief from Personal Income Tax, in line with the provisions of the Cross River State Tax exemption law 2015 (as amended), while self-employed persons (artisans, hawkers, okada riders, tricycle riders, taxi drivers, petty shops, barbing/hair dressing salon owners, restaurants/eateries) are also granted tax reliefs in line with the provisions of the CRS Tax exemption law 2015.

He also stated that taxpayers would be allowed to make instalmental payments in 2020 for outstanding tax liabilities from 2018 – 2019 over a period not exceeding six months.

The Chairman also said the deadline for the submission of Pay-As-You-Earn (PAYE) annual returns by employers of labour in the State for the 2019 tax year was extended to September, 30th, 2020, with waivers granted on penalties.

Other taxes, levies and fees received varying degrees of rebates from 50 per cent to 100 per cent.

In his remarks, the President of the Calabar Chamber of Commerce (CALCCIMA) Eta Ndoma-Egba, commended Government for the budget review and the tax reliefs, noting that the Chamber had long advocated for these, and it came at the right time, as both the State and businesses were grappling with the challenges of COVID-19 economy.

He also emphasised the need to plug revenue leakages to ensure that Government maximises its internally generated revenue profile.

Since You Are Here, Support Good Journalism


CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.

CLICK HERE

New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here


Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today

You may also read!

Never Be Afraid Of Asking Questions… BY AGBA JALINGO 

Freedom House, America’s oldest think thank, devoted to the support and defense of democracy around the world, was formally

Read More...
Citizen Agba Jalingo and his grandmother, Mrs Mary Andokie Ikwen (nee Ushie) during a visit to her in 2021.

CrossRiverWatch Publisher, Agba Jalingo Loses Grandmother Aged 121

By Jonathan Ugbal The grandmother of CrossRiverWatch publisher, Agba Jalingo, Mrs. Mary Andokie Ikwen (née Ushie) has died aged

Read More...

The Dream Is To Make UCTH WorldClass Health Institution – CMD, Tours 950 Million COVID-19 Support Funds Facilities

By Patrick Obia The Chief Medical Director of the University of Calabar Teaching Hospital (UCTH), Prof. Ikpeme A. Ikpeme

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now