Metro & Crime

COVID-19: Niger reduces tax to cushion economic impact

As part of efforts to cushion the effect of the COVID-19 lockdown, which has affected businesses adversely, the Niger State government has approved the reduction of tax payments in the state.

While addressing journalists at the Government House, Minna, Secretary to the State Government, Alhaji Ibrahim Ahmed Matene on behalf of Governor Abubakar Sani Bello in Minna said the gesture will cushion the economic impact of the coronavirus pandemic in the state.

Matene, who is also Chairman of the COVID-19 Task Force in the state, said the tax reduction takes effect from June 24, 2020 and runs to March 31, 2021.

According to him: “The filling date of annual tax returns by all businesses and individuals have been extended 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.”

Furthermore, he stated that the penalties and interests on late fillings, payments, and remittances as well as default on tax liabilities have been reviewed downward to 5% percent for penalties and 10% percent for interests charges.

Matane disclosed that government has granted 50 percent reduction on all rates as contained in the Harmonized Agricultural Produce and Livestock Fees Collection Regulation Act 2019.

Payments in four instalments have been granted to all tax payers in the Small Medium Enterprises (SMEs) and the informal sector.

 

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