Tony John, Port Harcourt
Rivers State Governor, Nyesom Wike, has granted tax relief and incentives to taxpayers to cushion the effects of hardship occasioned by COVID-19 pandemic lockdown.
Governor Wike also announced the suspension of informal sector tax drive for 2020, noting that the informal sector was the worst hit in terms of the economic impact of the COVID-19 pandemic.
He further suspended local government taxes and levies for the year, except tenement rate and granted a waiver of 50 percent on Capital Gains Tax (CGT) until December 2020.
Executive Director, Rivers State Internal Revenue Service (RIRS), Adoage Norteh, disclosed this in a document in Port Harcourt.
The governor announced the extension of the deadline of self-assessment and annual returns by individuals and companies operating in Rivers to December 31, due to movements which affected businesses.
“The COVID-19 pandemic and the lockdowns have resulted in major disruption in economic activities, resulting in negative economic impact, particularly on micro, small medium-sized enterprises (MSMEs).
“Most of these MSMEs operate at the rural areas, with many having limited online connectivity to be able to file and pay their taxes electronically.
“It has, therefore, become expedient and equitable for the Rivers State government to ease the compliance requirements for taxpayers, giving them waivers on penalties and interest for late filing and payment of taxes to the extent that they are related to the COVID-19 pandemic,” the governor said.
He also granted a 20 percent discount on Personal Income Tax (PIT) assessment issued to owners of schools, hotels, pharmacies and hospitals, as well as other allied businesses to December 31.
Meanwhile, the governor called on members of the State Judicial Service Commission (JSC) to make Rivers judiciary the best in the country.
Governor Wike gave the charge yesterday, in Port Harcourt, when he swore in four members of the commission.