The Borno State Government on Wednesday introduced three new tax regimes to boost it’s internally generated revenue.
According to the State Government, the taxes are on consumption, entertainment and presumptive tax (CEPT) which would lead to rise of the to internally generated revenues by the state.
The Chairman of Borno State Board of Internal Revenue Service (BIRS), Mohammed Alkali while announcing the adoption of the new taxes on Wednesday in Maiduguri, disclosed that new technologies have been deployed in ‘revenue and tax collection’ to block leakages in the formal and informal sectors of economy.
He noted that the harmonized revenue law has been passed by the State House of Assembly for 2021 implementation.
Alkali said the increase IGR, could be used to finance developmental projects across the 27 council areas of the state.
He however allayed the fears of residents of the state that the state government plans to increase taxes this year to finance government projects and programmes.
He said: “We are not increasing any tax rates this year, as being speculated in some quarters,” insisting that the new tax policy is being enforced in the transport and business sectors.
He said the state government is not unmindful of the economic stress citizens and businessmen are facing amidst the Boko Haram insurgency and the Coronavirus (COVID-19) pandemic.
He however called on the people to meet up their tax requirements in rebuilding the over a decade long insurgency ravaged state.
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