Small-scale industries and artisans in Abia State will enjoy tax waivers/discount on tax payments made between July and September 2020 according to the state board of internal revenue.
The BIR, in a statement issued late Monday, titled “Abia State COVID-19 Tax Palliatives”, stated that the state governor, Okezie Ikpeazu, has approved tax reliefs to residents of the state to mitigate the economic impact of prevailing Covid-19 pandemic.
The statement, signed by Agbara Celestine, acting chairman/chief executive, Board of Internal Revenue, Abia State, stated that small scale industries/artisans (PAYE and all forms of personal income taxes/direct taxes), who make payment for past 3 years arrears, would enjoy 25 percent waiver/discount for payment from now to end of July 2020; 20 percent waiver/discount for payments in August 2020 and 15 percent waiver/discount for payments in September 2020.
The state government also reduced tax clearance certificate (TCC) from a minimum of N60,000 to N30,000 for payments made in July 2020, N35,000 for payments made in August 2020: N40,000 for payments made in September 2020, N50,000 for payments made in October 2020: while payments made in November 2020 has been reduced to N55,000.
Capital gains tax, which attracts 10 percent tax, has been reduced to 5 percent for payments made in July 2020: 6 percent for payments made in August 2020: 7 percent for payments made in September 2020, 8 percent for payments made in October 2020 and 9 percent for payments made in November 2020.
Abia Property and Land Use Charge (AbiaPLUC) will enjoy waive 2 of the 3 years for all arrears paid before end of July 2020 and waive 1 of 3 years for payment in August 2020.
With the new tax regime, the registration cost for the lands purpose clause has been reduced from N30,000 to N20,000 for payments made in July 2020 and N25,000 for payments made in August 2020.
Payments for Certificate of occupancy (CofO) for urban and rural areas made in July 2020 is to enjoy 50 percent of assessed fee, 40 percent of assessed fee for payments made in August 2020: 30 percent of assessed fee for payments made in September 2020: October 2020: 20 percent of assessed fee for payments made in October 2020, while payments made in November 2020, will enjoy 15 percent discount of assessed fee.