Ikpeazu approves tax waiver for COVID-19 palliatives

Posted by News Express | 22 July 2020 | 863 times

• Gov. Okezie Ikpeazu

Abia State Board of Internal Revenue (ABIR) has announced that artisans and small scale industries in Abia state would enjoy tax wavers/discount on tax payments made between July 2020 and September, 2020 to cushion ravaging impact of COVID-19. ABIR in a statement issued on Monday entitled “Abia State COVID -19 Tax Palliatives,” stated that Governor Okezie Ikpeazu has approved tax reliefs to residents in order to assuage economic impact of prevailing COVID-19 pandemic

The statement signed by ABIR Acting Chairman/ Chief Executive, Mr. Celestine Agbara, stated that small scale industries/ artisans PAYE and all form of personal income taxes/ direct taxes, who had made payment would enjoy 25 per cent waiver/discount for payment from now to end of July, 2020; 20 per cent waiver/ discount for payments in August, 2020 and 15 per cent waiver/discount for payments in September, 2020.

The state government also reduced tax clearance certificate (TCC) from a minimum of N60,000 to N30,000 for payments made in July 2020, N35,000 for payments made in August 2020: N40,000 for payments made in September, 2020, N50,000 for payments made in October 2020 while payments made in November 2020 has been reduced to N55,000.

Capital gains tax, which would attract 10 per cent tax, had been reduced to 5 per cent for payments made in July 2020, 6 per cent for payments made in August, 2020, 7 per cent for payments made in September, 2020, 8 per cent for payments made in October, 2020 and 9 per cent for payments made in November 2020. Abia Property and Land Use Charge (AbiaPLUC) will also enjoy waiver of 2 of the 3 years for all arrears paid before end of July 2020 and waiver of 1 of 3 years payment in August 2020. (New Telegraph)