Tax relief: Fed Govt, World Bank plan $2.5m grant for each state | The Nation

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Some states that began implementation of a tax relief for individual taxpayers and businesses by September 31 are to be compensated.

Such states will partake in the $2.5 million set aside by the Federal Government through its Ministry of Finance, Budget and National Planning and the World Bank, the Nigeria Governors’ Forum , said on Sunday.

“However, there are criteria to be met if a state is to receive the $2.5 million. These are that, state announcements should be signed by the Commissioner of Finance or the Executive Chairman of the State Internal Revenue Service, and published on state websites and in national dailies to ensure widespread awareness amongst taxpayers.

It noted that states are already introducing various forms of tax relief, which include extension of filing and payment dates, tax moratoriums, waivers or reduction of penalties and interests over the extension period.

 

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