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Kogi introduces tax compliance relief to mitigate COVID-19 impact

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A structured tax compliance relief programme is to commence in Kogi State for businesses and individual taxpayers in Kogi State so as to mitigate the impact of COVID-19 pandemic.

The State Commissioner for Finance, Budget and Economic Planning, Hon. Asiwaju Idris gave the disclosure in Lokoja on Friday, while charging the State’s Internal Revenue Service (KGIRS) to activate the programme.

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The decision was reached by the governor, Alhaji Yahaya Bello while reviewing the impact of COVID-19 in the State which he said has impacted the local economy, livelihoods and food security of citizens.

Asiwaju Idris however, said the tax relief was to commence in the third quarter of the year, 2020.

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“Following the directives by the Governor, the Executive Chairman of Kogi State Internal Revenue Service (KGIRS), Aliyu Inda Salami, highlighted the following incentives and reliefs for businesses and individuals in the State. adsbygoogle || []).push({});

“Deadline for filing of annual returns by individuals has been extended from 31st of March to 31st of August, 2020.

“Filing of annual returns by companies shall now be till August 31st, 2020 as against the usual January 31st. Also, the penalty for late filing has been waived.

“Waiver of penalty and interest on all concluded Tax Audit Review till December 31st, 2020.

“A 50% discount on all assessed Capital Gain Tax (CGT) from now till December, 2020

“A 50% discount to all Personal Income Tax Assessment issued to owners of schools and Hotel in year 2020.

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