Bayelsa government on Friday announced 50 per cent tax relief for the informal sector and other tax reliefs to residents and business operators.
The gesture is to cushion the effect of the COVID-19 pandemic on taxpayers.
The Chairman, Bayelsa Board of Internal Revenue, Dr Nimibofa Ayawei, who disclosed this in a statement issued in Yenagoa said the tax reliefs approved by Governor Douye Diri, had demonstrated his show of sensitivity to the impact of the coronavirus pandemic on businesses in the state.
According to him, part of the concessions granted by the government was the extension of the deadline for filing Form A returns for employees and annual returns to September 30 for companies and institutions operating in Bayelsa State.
“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”, he stated.
Ayawei, also said, “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. A 35 per cent discount on pool betting tax for the year 2020”.
