Business

Abia grants 100% tax waiver to investors

Abia grants 100% tax waiver to investors

As part of measures to make Abia state investor friendly, the state Governor, Okezie Ikpeazu, on Tuesday announced new tax and leavy waivers for potential investors in the state’s industrialisation programme.

The government granted 100 percent tax and dues waiver excluding user fees and Pay as You Earn (PAYE) for new investment in education not less than N500 million on verified value.

In a statement by the state’s Commissioner for Information, John Okiyi Kalu, the workforce of investors in the category is also expected not to have less than 100 persons.

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According to him, the move was to tackle the harassment of business organisations in the state by sundry agents.

Under the new regime, 100 percent tax waivers were also granted for investment in sectors like: manufacturing with value of N500 million and workforce not less than 50 persons; healthcare worth N500 million with workforce not less than 20 persons.

Other areas of tax waivers are: hospitality valued at N300 million and a workforce of not less than 20 persons; and agro-allied worth N50 million and a workforce of not less than 50 persons.

 

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Olakoyenikan Oluwasegun