Cross River State Government has announced the reduction of the N1.1Trillion 2020 Budget by eighty percent.
This is inline with the current reality brought about by the Covid-19 Pandemic on the economy.
The Commissioner for Finance, Asuquo Ekpenyong, made this known in Calabar, while briefing Journalists on the revised budget.
He said the new proposed budget for the year now is N147.130billion, already sent to the State House of Assembly for consideration and passage into law.
The Chairman of Cross River State Internal Revenue Services, Apanke Ogar explained that the tax reliefs given to the people, as a way to cushion COVID-19 effects by the Governor, was part of the reasons for the reduced inflow.
Also Read: Gov Ikpeazu signs revised 2020 Budget
Those exempted from taxes, aside Rebate Stimulus for Companies, are self-employed persons like artisans, hawkers, tricycle riders, taxi drivers, petty shop owners, Barbing/Hairdressing salon owners, restaurant/eateries among others.
(Editor: Ifeanyi Mark)
