TAXATION: EDO GOVT. APPROVES WAIVERS ON OUTSATNDING LAIBILITIES OWED BY TAX PAYERS ON CONDITIONS

TAXATION: EDO GOVT. APPROVES WAIVERS ON OUTSTANDING LIABILITIES OWED BY TAX PAYERS ON CONDITIONS

By Eben Enasco Kingsley, Benin City

Edo State Executive Chairman, Internal Revenue Service, EIRS, Chief Oseni Elamah, has graciously approved waivers on outstanding tax liabilities owed the state government on debts already established and communicated to tax payers as final liabilities within 90-day in line with the philosophy of the state Governor, Mr. Godwin Obaseki to run peoples participatory and result oriented government.

The waiver was announced by the Chairman, Chief Elamah in a stakeholders meeting held recently in the state capital in line with section 80 of the personal income tax Act 2014 as amended. 

Chief Elamah in his address stressed that provided the dept are settled within the 90-day duration of grace effect December 1, 2016 to Wednesday march 1, 2017 as terms and conditions outlined for the tax payers.

He explained that PAYE TAX for debts owed up to November 2016, within the last 30days attract 50% reduction with a waiver of full interest and its penalties.

Continued, Chief Elamah said, for land use charges within 90-day period; dept paid within 60-day also attract 50% reduction plus a waiver of full interest and its penalties.

The EIRS gaffer further disclosed that, consumption tax defaulters within 90days period owing 500,000 and above and makes payment within the 90-day grace period stand a chance to get 30% reduction of the amount owed plus a waiver of full interest and its penalties

He however, urged tax debtors to take full advantage of the magnanimity exhibited by Governor Obaseki and pay up all outstanding arrears to avoid unnecessary embarrassment without delays.