Nigeria: Borno Introduces Three New Tax Regimes to Boost Revenue
Written by COMFORT 95.1FM on January 21, 2021
Borno State Government yesterday introduced three new tax regimes to boost its internally generated revenue, IGR.
According to the state government, the taxes are on consumption, entertainment, and presumptive tax , CEPT, which would lead to the rise of the state Internally Generated Revenue, IGR
Chairman, Borno State Board of Internal Revenue Service,BIRS, Mohammed Alkali, announced the adoption of the new taxes yesterday in Maiduguri
He also announced that technologies have been deployed in revenue and tax collection to block leakages in the formal and informal sectors of the economy.
Akali noted that the harmonized revenue law has been passed by the state House of Assembly for 2021 implementation.
He said the increased IGR could be used to finance developmental projects across the twenty-seven council areas of the state.