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COVID-19: Ogun State Government Approves Tax Reliefs To Reduce Economic Hardship

by on August 8, 2020
 

In a bid to cushion the effect of the coronavirus pandemic on the people of Ogun State the governor of the state Dapo Abiodun has approved certain tax relief to aid the ease of doing business in the state.

The governor who disclosed this on Saturday said the approval is to be immediately effected by the Ogun State Internal Revenue Service.

According to him this will reduce the excessive burden occasioned by COVID -19 harsh realities on tax payers in the state.

Abiodun listed areas that will enjoy the waiver to include the following;

1. 6-month deadline extension for filling of 2019 income tax returns by the self employed/informed sector from March 31, 2020 to September 30.

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2. 8-month extension of filling of 2019 annual PAYE returns by PAYE operators/tax agents from January 31, 2020 to September 30, as well as complete waiver of interest and penalty for late filling for the extension period.

3. Complete waiver of interest and penalty for late remittance of monthly PAYE for the extension period.

4. Same waiver for late payment of Direct Assessment/Personal Income Tax by the self employed from January 1, 2020 to December 31.

5. Waiver of weekly tax by operators and promoters of pool and betting businesses from April 1, 2020 to June 30.

6. The Tax Audit Reconciliation Committee (TARC) will also henceforth adopt video conferencing as the default mode for their meetings to continue ensuring ease of doing business while maintaining physical distancing.

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As taxpayers make payments to the State’s designated accounts in approved banks, I urge them to make the best use of these reliefs, he said.

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