The Borno State Government, has adopted measures to cushion the
coronavirus (COVID-19) effects on taxpayers and entrepreneurs.
The five-point measures, range from tax relief to preserving basic
essential services for COVI-19 response and recovery.
Adopted measures, were disclosed Monday in Maiduguri, while the
Commissioner of finance, budget and economic planning, Ahmed Lawan was
breaking down revised budget of N108.86 billion.
He said the revised budget, is however against original Appropriation
Bill of N146.894 billion passed by the State House of Assembly last
December.
He added that the revised budget has recurrent expenditure of N71.2
billion, while capital expenditure stood at N75.73 billion.
“During the first quarter of implementing 2020 budget, the world was
hit by the COVID-19 pandemic,” he said, lamenting that it caused
unprecedented global economic meltdown.
He said the fiscal indices; were completely overturned to comprise the
revised budget projections.
According to him, this informed the state government to adopt measures
cushion effects of COVID-19 on taxpayers.
While adopting the measures, he said: “We had to reassess the revenue
projections, stemming from oil price and broader economic shocks.
“This include appropriate emergency spending required for COVID-19
health response and mitigation of economic impact on the poor and
vulnerable.”
He said the measures include tax relief and incentive programme for
Small & Medium Enterprises (SMEs) approved by Chairman of State’s
Internal Revenue Services (IRS).
“There will be extensions of filling and payment dates and waiving
penalties and interests over the fined extension period,” he said;
adding that there would be reduction or waiver of interest on all late
fillings and payments for tax liabilities.
He said this is applicable to liabilities that fell due; during the
extension period for sectors that were determined by government.
Already, he said the State Bureau of Public Procurement, has issued
procurement emergency guidelines for COVID-19 and other emergency
situations.
He explained that this will facilitate participation of SMEs by
training them on adapted procedures.
On taxpayers’ relief, he said: “Property relief have been announced
and property records update is in progress, as we entered the second
half of 2020.
He added that State Ministries, Departments and Agencies (MDAs), have
been directed to note that monthly expenditure returns for COVID-19
response expenditures be submitted to Auditor General.
He said that the expected IGR from the revised 2020 budget may hit N10
billion, while in 2021 fiscal year, the IRS also projected an
internally generated revenue of N15 billion.
