Tax payers in Akwa Ibom got reprieve as the state government approved a tax holiday for all categories of tax payers as part of measures to cushion the impact of the coronavirus pandemic on people and businesses.
Governor Udom Emmanuel gave the approval on Friday during the State Executive Council meeting.Hedirected the state ministry of finance to work out modalities for immediate implementation of the decision.
Briefing government house correspondents at the end of the meeting, Commissioner for Information, Sir Charles Udoh, said the decision was in line with the World Bank requirements for giving out grants and support to state governments as well as a decision taken at the Governors’ forum for grants and reward to cushion the effects of COVID-19 pandemic in the country.
“Major decisions taken today (Friday)/include the approval to commence a process of working out modalities for implementation of tax relief to tax payers in Akwa Ibom State for 2020 tax year.
“This is in consideration of the adverse effect of COVID-19 pandemic and in line with the requirement of World Bank for grants and support to state governments.
“It is also a decision reached at the Governors’ forum for grants and reward to cushion the effect of COVID-19 pandemic.”
Details of the waiver is being worked out by the Ministry of Finance and will be published in due course”, Sir Udoh stated.