The Gombe State Internal Revenue Service has outlined a series of tax concession and palliatives for taxpayers in response to the impact of the Covid-19 pandemic which has led to shut down of both government and private businesses and disrupted supply chain.
The measure is designed to cushion the effects of the pandemic, relieve taxpayers of the burden of tax compliance at this trying moment.
The Administrator, Gombe State Internal Revenue Service, GIRS, Malam Abubakar Inuwa Tata announced the tax concessions and palliatives as follows:
(1) Extension of time for filing of annual returns by individuals from March 31, 2020 to August 31, 2020;
(2) The due date for filing of annual returns by companies is also extended to August 31, 2020 as against earlier deadline of January 31, 2020;
(3) The penalty of N50,000.00 for individuals and in the case of corporate organisation N500,000.00 for non-filing has also been waived;
(4) The Service has also waived all penalties and interests for outstanding liabilities on back-duty audit for individuals and enterprises in the State, particularly the micro, small and medium scale (MSMEs)enterprises affected by the pandemic;
(5) A waiver of interest on all outstanding liabilities for limited liability companies operating in the State;
(6) Taxpayers will be allowed to file returns using unaudited accounts but must subsequently submit their audited accounts within two months after the revised due date for filing;
(7) Waiver on interest element on back-duty liabilities for Mast/Towers levies of Telecommunication companies, Radio stations and commercial banks;
(8) Registration and renewal of vehicle particulars have been slashed by 5% and 10% respectively from the original cost to enable all road users comply with road traffic regulations;
(9) A 40% waiver on back-duty withholding taxes for rent on institutional estates, private estates, individuals rented properties, shops and apartments, WHT on contracts, Director’s and consultancy fees, etc;
(10) A 50% waiver on Capital Gain Tax assessed on sale of properties;
These palliatives/tax relief are available to taxpayers who wish to settle their outstanding tax liabilities on or before the 31st of October, 2020. However, this doesn’t include back duty on PAYE.
The GIRS administrator expressed hope that all residents and business entities operating in Gombe State will take advantage of these palliatives and reciprocate Government’s by discharging their civic responsibilities of paying taxes and levies due to the State Government promptly.