Bayelsa State Government has announced 50% tax reliefs for individuals and business operators in the state to cushion the effect of the COVID-19 pandemic on taxpayers.
Dr Nimibofa Ayawei, Executive Chairman, Bayelsa Board of Internal Revenue, who made the disclosure in Yenagoa, said the tax reliefs approved by Governor Douye Diri was a demonstration of government’s sensitivity to the adverse impact of the coronavirus pandemic on people and businesses.
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According to him, part of the concessions granted by the government is the extension of the deadline for filing Form A returns for employee and annual returns for companies and institutions operating in Bayelsa.
He said: “This is 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. A 35 per cent discount on pool betting tax for year 2020,” Ayawei stated.
