Bayelsa State government has announced a 50 percent tax relief for the informal sector and other tax reliefs to residents and businesses to cushion the effect of the Covid-19 pandemic on tax payers
Nimibofa Ayawei, executive chairman, Bayelsa Board of Internal Revenue, in a statement in Yenagoa on Friday, described the tax relief approved by Governor Douye Diri as a show of sensitivity to the adverse impact of the coronavirus pandemic.
Ayawei said part of the concessions granted by the government was the extension of the deadline for filing returns for employees and annual returns to September 30, 2020 for companies and institutions operating in Bayelsa.
The statement says: “A waiver of penalty and interest until August 31, 2020 for outstanding Pay-As-You-Earn (PAYE) remittances. “A waiver of penalty for all outstanding tax issues up to December 2019, for which the undisputed amounts are paid within 30 days post interstate lockdown.
“A 50 per cent discount on the personal income tax assessment for the informal sector in the year 2020 as contained in the minimum harmonised tax rates in Bayelsa. Also, a 35 per cent discount on pool betting tax for year 2020.”