Bayelsa offer tax reliefs to businesses, individuals

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As part of the incentives to cushion the impact of coronavirus on businesses, individuals and households in Bayelsa State, the Board of Internal Revenue said Governor Douye Diri has approved reliefs for taxpayers in the state.

The Executive Chairman of the board, Dr Nimibofa Ayawei, made this known yesterday in Yenagoa, Bayelsa State capital.

Ayawei said the deadline for the submission of Form A for employees and annual returns in accordance with Sections 41 (3) and 81(1-3) of the Personal Income Tax Act (PITA) 2011 as amended, for companies and institutions operating in Bayelsa, had been extended to September 30, 2020.

He also said there was a waiver of penalty and interest until August 31, 2020 for all outstanding Pay-As-You-Earn (PAYE) remittances.

He further said there was a waiver of penalty for all outstanding tax issues up to December 2019, for which the undisputed amounts were paid within 30 days post inter-state lockdown.

Ayawei added: “There is 50 per cent discount on the Personal Income Tax Assessment from the informal sector in the year 2020 as contained in the Minimum Harmonized Tax Rates in Bayelsa State.

“Also, there is 35 per cent discount on Pool Betting Tax for 2020.”