The Cross River Internal Revenue Service (CRIRS) has announced that it will give relief packages and incentives to individual taxpayers and companies.
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It said this in a statement on Monday, adding that the step became necessary due to the effect of the COVID-19 pandemic on businesses.
Asuquo Ekpenyong, Commissioner of Finance, said the incentives in form of tax exemptions will cover periods from February to December, 2020.
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While breaking down the incentives, Akpanke Ogar, the Executive Chairman, CRIRS, stated that individuals in the public sector (under the Pay-As-You-Earn scheme) earning less than N100,000 will be 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, restuarants/eateries) are also granted tax reliefs in line with the provisions of the CRS Tax exemption law 2015.
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He also stated that taxpayers will be allowed to make payment in installments for outstanding tax liabilities from 2018 – 2019 over a period not exceeding 6 months. He said the deadline for submission of Pay-As-You-Earn (PAYE) annual returns by employers of labour in the state for 2019 tax year has been extended to 30 September, 2020, with waivers granted on penalties.