COVID-19: Delta govt announces tax relief for SMEs
Public service providers and small scale businesses in Delta State are to enjoy tax rebates from the state government as a special COVID-19 palliative package.
The state Commissioner for Information, Mr Charles Aniagwu, who disclosed this in Asaba listed private schools, maternity homes, medical clinics, agro-allied firms, confectionery enterprises and hospitality outfits as direct beneficiaries of the package.
According to him, the measure was aimed at saving micro, small and medium scale businesses in the state from sinking under the weight of the COVID-19 pandemic, agreeing that the pandemic had seriously affected these groups of businesses implementation.
The commissioner who was flanked by the Chairman, Delta Board of Internal Revenue (DBIR), Mr Monday Onyeme, the state commissioner Economic Planning, Dr Barry Gbe and his Finance counterpart, Sir Fidelis Tilije, who all expatiated on the extra palliatives to save jobs by keeping afloat businesses that bear directly on the lives of the masses.
Explaining the package, DBIR boss said that the tax reliefs include waivers concerning the statutory 25 per cent interest on delayed tax payment or the compulsive 10 per cent penalty for tax defaults.
Onyeme further explained that the tax incentives covered the fiscal periods from 2011-19, even as get advised those with justifiable grounds to apply for the COVID-19 tax or audit palliatives should not hesitate to approach the state internal revenue board.
The economic planning commissioner, Dr Gbe, further explained that the objective of the fiscal palliatives especially to small scale businesses was in line with the state government’s efforts to “take away the pains of these essential businesses through tax relief for SMEs.”
However, Gbe noted that the incentives were without jeopardy to the implementation of state revised 2020 Budget as the government took proactive steps in reshaping the projections for the fiscal year, which was pruned down by 29 per cent from the initial N395 billion to the present N282 billion.
tax relief for SMEs