FRI, JUN 26 2020-theG&BJournal- The Niger State Government Friday approved the reduction of tax payments in the State, as part of measures to cushion the economic impact of the coronavirus pandemic.
In a state wide broadcast, the Secretary to the State Government, Alhaji Ibrahim Ahmed Matene on behalf of the State Governor Abubakar Sani Bello, said the tax reduction will take effect from June 24, 2020 to March 31, 2021.
The tax incentive includes payment in four instalments granted to all tax payers in the Small Medium Enterprises (SMEs) and the informal sector in the State.
He announced also the extension of filling date of annual tax returns by all businesses to September 30, 2020 while the filling of monthly PAYE returns by businesses has been granted 10 days extension beginning from the 10th to 20th of every month.
He stated that the penalties and interests on late fillings, payments, and remittances as well as default on tax liabilities have been reviewed downwards to 5% for penalties and 10% for interest charges.
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