Employers of labour and self-employed individuals in Delta State have been given up till 31st January and 31st March 2021 respectively, to voluntarily file their annual tax returns for the year 2020 in accordance with the Personal Income Tax Act of 2004, as amended.
This notice is contained in a statement issued in Warri by the Executive Chairman of the Delta State Internal Revenue Service, Sir Monday Onyeme.
The statement reminded the affected tax payers of their obligations under the law, in Section 81(2) of the Personal Income Tax Act 2004, as amended.
According to the statement, the law made it mandatory for all employers of labour to file a return with the relevant tax authority of all emoluments paid to its employees not later than 31st January of every year in respect of all employees in its employment in the preceding year.
It noted that contravention to this law was liable on conviction to a penalty of five hundred thousand naira in the case of a corporate body, or fifty thousand naira in the case of an individual.
The statement advised those concerned to furnish the Delta State Internal Revenue Service with a monthly schedule of Pay As You Earn, PAYE, remittances in hard and soft copies as required by law.
“The Annual Tax Returns which should also be submitted in hard and soft copies to the office of the Executive Chairman of the Revenue Service in Warri, is expected to include photocopies of PAYE payments from January to December,2020; evidence of directors’ tax payments from 2018, 2019 and 2020; copies of receipts for withholding taxes from January to December 2020; evidence of payment of Business Premises/Renewal for the year 2020; evidence of payment of development levy for 2020; copy of lease agreement and rent receipts for office space occupied, as well as salary payroll projections for the year 2021,” the statement added.
