In addition to palliatives the Kaduna State Internal Revenue Service (KADIRS) rolled out earlier, it has introduced Covid-19 tax incentives to cushion the effects of the pandemic on taxpayers.
This was contained in a statement issued by the executive secretary of KADIRS, Dr. Zaid Abubakar, yesterday, listing the new incentives to include extension of deadline for filing tax returns, waiver of penalties and interest for late filing of returns and tax rebate.
‘’The Kaduna State Government is granting the incentives in accordance with Sections 95 (1) and 127 of the Kaduna State Tax (Codification and Consolidation) Law, 2016,’’ it clarified.
This is as the Ministry of Youth and Sports Development, in partnership with the public and private sector actors, has invited young Nigerians to participate in the 60-day app development challenge aimed at engaging them to compete with one another in the art of mobile application design.
The ministry, which announced this via a statement, said app developers interested in the project should be inspired by the desire to get their fellow Nigerians connecting seamlessly and safely with each other, and conducting their businesses even as the pandemic is still an ongoing concern.
App submissions must solve a problem within the following fields: edu-tech, agri-tech, sport, health, fin-tech and telecommunications.
The Kaduna State government also said taxpayers would be given grace periods for payment of consumption tax by the entertainment and hospitality sector, PAYE by private schools and for persons subject to presumptive tax.
The statement read in part: “The deadline for the filling of Annual Tax Returns has been further extended to September 30, 2020. Penalties and interests that hitherto would accrue for late filling of returns have been waived for the period of the extension (April 1 to July 31, 2020).
‘’Filling of Annual Tax Returns within the extended period shall be deemed to be within the statutory timeline and shall attract one per cent rebate on tax due.”
It further said that KADIRS has opened a window within the period of extension for amicable or out of court settlement of all pending cases in courts or tribunals, adding taxpayers subject to Presumptive Tax shall enjoy a four-month grace period to recover from the shock of the lock down (June 1 to September 30, 2020).