Jigawa approves one year tax payment holiday to business owners
Jigawa state government has approved a one-year tax holiday to all existing small and medium enterprises in the state effective July 1, 2020, to December 2021.
State Commissioner for Finance and economic planning, Babangida Umar Gantsa disclosed this to newsmen in Dutse the state capital.
He said this is in consideration of the negative effects of the COVID-19 pandemic on their businesses.
Umar explained that, “the incentives/tax relief program include; eighteen months tax relief to all new enterprises, one year tax holiday to all existing small and medium scale enterprises”
“Other relief include reduction of penalty and interest from 10% to 5% and from 21% to 9% on interest respectively, 50% waiver on business premises license”
“A 50% waiver on informal sector taxpayer from 1st July 2020 to 31 December, 2021. 50% waiver for warehouse rent for businesses at state export free zone (EPZ) by Ministry of Commerce”
He noted that the incentive does not affect corporate bodies who are required to file their returns in respect of their employees on or before 31st January of each year.
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