COVID-19 caused 2020 budget cut from N1.1tr to N147bn – Cross River Govt
The proposal has been sent to the legislature.
Commissioner for Finance, Asuquo Ekpeyong, told newsmen in Calabar that the review was due to COVID-19. “We are affected economically and decided to review the 2020 appropriation to tally with the present economic realities. We have forwarded a reviewed budget of N147,130,166,966 to the State Assembly for deliberations,” he said.The official warned extortionist agents illegally collecting taxes from those exempted from paying.Chairman, Internal Revenue Service , Okpanke Ogar, announced tax exemption for individuals in the public sector who earn less than N100,000 monthly salary.
Ogar disclosed that tourism revenue, sale of tickets by various agencies and Local Governments have also been put on rebate till November. “In 2019, we generated N22 billion, but all these taxes abating, it will surely affect our IGR for this year”, Ogar predicted.
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