COVID-19: DSBIR Approves Waiver of Interest and Penalties on Outstanding Tax Audit Liabilities

Proshare

Tuesday, August 04, 2020 / 02:16 PM / by KPMG Nigeria / Header Image Credit: Delta State Board of Internal Revenue

 

Proshare Nigeria Pvt. Ltd.


The Delta State Board of Internal Revenue (DSBIR or "the Board") recently issued a Public Notice announcing the waiver of interest and penalties on outstanding tax liabilities arising from tax audits carried out on private primary and secondary schools, eateries and hotels ("affected taxpayers") from 2011 to 2019 financial years. Affected taxpayers who wish to take advantage of the waiver are required to submit an acceptance letter to the Executive Chairman of the Board within 21 days of the notice, and settle their outstanding principal tax liabilities by 30 September 2020.

 

In addition to the above, the State Director of Information issued a statement on Wednesday, 29 July 2020, stating that the Governor has directed the Board to approve the following additional palliatives for taxpayers in the State:

  • payment of outstanding tax liabilities in instalments for taxpayers on case by case basis.
  • waiver of penalties for late payment of liabilities under the Pay-As-You-Earn Scheme that was due during the COVID-19 lockdown in the State from 1st April 2020 till 31st October 2020.
  • waiver of penalties due on the late filing of the year 2020 annual tax returns
  • waiver of interest and penalties on additional tax liabilities arising from 2009 to 2015 tax audit exercise for taxpayers who can settle the outstanding principal amount by 31st December 2020.

 

Comments 

We commend the Delta State Government for approving the above palliative for taxpayers in the State to ease the financial challenges that taxpayers are currently grappling with as a result of the pandemic. This is a cost-saving opportunity which affected taxpayers would be expected to take while it lasts.

 

Proshare Nigeria Pvt. Ltd.


Related News

  1. Much Ado About the FIRS' 6% Stamp Duty on Leases
  2. VAT Collection Edges Higher But Indicates Weaker Economy
  3. N651.77bn Generated as VAT in H1 2020 - NBS
  4. FIRS Provides Clarifications on Administration of Stamp Duties in Nigeria
  5. COVID-19: Bayelsa, Kebbi and Ogun State Govts Announce Various Palliatives for Resident Taxpayers
  6. LIRS Announces Implementation of Additional Tax Incentives and Reliefs for Taxpayers in Lagos State
  7. FIRS Further Extends Deadline for Waiver of Interest and Penalty on Outstanding Tax Liabilities
  8. Stamping of Electronic Documentations Under the Stamp Duties ACT as Amended by the Finance ACT
  9. Takeaway from Inauguration of Committee on Recovery of Stamp Duties
  10. FIRS Issues Public Notice on VAT (Modification Order) 2020 - Items Not Exempted from VAT
  11. FIRS Clarifies Changes Introduced to Nigerian VAT Regime by the Finance ACT 2019
  12. VAT Modification Order: Any Contrary Position Expressed by the FIRS Cannot Stand
  13. COVID-19: LIRS Announces TARC Meeting Procedures
  14. Companies Income Tax (Significant Economic Presence) Order, 2020
  15. Matters Arising from Implementation of Finance Act 2019
  16. COVID-19 Impact: Taxpayers' Responsibility and Expectations
  17. Tax Administration in Challenging Times and Future Outlook

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP