EXPANSION OF THE REVENUE BASE OF AKWA IBOM STATE

             Akwa Ibom State Government has put in place measures to increase the level of the State’s Internally generated revenue.

            One of such measures include a comprehensive tax audit of all the necessary establishments and big Companies operating in the State.

            Based on the tax audit report, it was discovered that several oil Companies were evading tax and when confronted, attributed failure in payment of statutory taxes to lack of operational base in the State

            On completion of negotiation with the management of Exxon/Mobil, Government has now made it mandatory for any Company doing business in the State to have operational base for prompt and appropriate payment of tax.

            This development, if followed up to the letter, will go a long way to beef-up the internally generated revenue of the State.