OGUN STATE GOVERNMENT ANNOUNCES POST COVID-19 LOCKDOWN PALLIATIVES FOR TAX PAYERS

The Ogun State Government, through the Ogun State Internal Revenue Service (OGIRS) has approved certain tax reliefs to taxpayers resident in Ogun State. According to OGIRS, tax relief is part of the government’s response to the impact of COVID-19 pandemic on businesses and individuals.

  

Highlights of the Public Notice 

The tax reliefs and palliatives being implemented by the OGIRS to ease the impact of the COVID-19 pandemic on taxpayers are as follows:

  • Deadline for filing 2019 income tax returns by self-employed individuals/informal sector has been extended by six months from 31 March 2020 to 30 September 2020.
  • Deadline for filing 2019 annual PAYE returns by PAYE operators/tax agents has been extended by eight months from 31 January 2020 to 30 September 2020.
  • Waiver of interest and penalty for the following:

                a. late filing of 2019 annual PAYE returns during the approved extension period.

                b. late remittance of monthly PAYE from 31 January 2020 to 30 September 2020.

                c. late payment of Direct Assessment/Personal Income Tax by self-employed individuals in 2020.

  •  Waiver of weekly tax by operators/promoters in the pool and betting business from 1 April 2020 to 30 June 2020.

OGIRS also indicated that video conferencing has been adopted as the default mode to conduct Tax Audit Reconciliation Committee (TARC) meetings in agreement with the social distancing directives.

 

Key takeaway

The tax reliefs introduced by OGIRS is commendable as this would ease the impact of the COVID-19 pandemic on taxpayers resident in Ogun State. Therefore, we encourage eligible taxpayers to take advantage of the palliatives already set up by the OGIRS. Also, we expect that OGIRS will continue to monitor the COVID-19 developments and introduce additional palliatives as may be necessary.

 Should you require further clarification with regards to these palliatives and its impact on your business, please contact us at Mazars Nigeria.