Ondo Grants Tax Relief, Waivers to Businesses

The Ondo State Government has introduced tax relief and incentives for taxpayers and businesses to cushion the impact of COVID-19 pandemic.

The Executive Chairman of the state Internal Revenue Services (ODIRS), Mr. Tolu Adegbie, disclosed this during a chat with journalists yesterday.

Adegbie said ODIRS has donated 1,800 units of Personally Protective Equipment (PPE) to all the revenue generating Ministries, Departments and Agencies (MDAs) in the state.

He said the donation of the PPE was in addition to the donation of N1.364million by the staff of ODIRS to the state COVID-19 committee.

The chairman of ODIRS noted that under the tax waiver, the government has suspended implementation of the Hotel,

Restaurant and Event Centre Consumption Tax.

According to him, tax due to start on June 1, 2020, is suspended in view of the peculiarly harsh impact suffered by the entertainment and hospitality sectors.

Adegbie also disclosed that the state government has also suspended the full implementation of the Land Use Charge rates based on property valuation.

He said: “The existing amnesty rates for residential property will subsist as follows: High Value Zone (HVZ), N7,000 to 10,000; Medium Value

Zone (MVZ), N3,000 to N5,000, and Base Value Zone (BVZ), N1,000.00 to N3,000 per annum.

“Penalty and interest on arrears of Land Use Charge from the year 2017 to 2019 is hereby waived for residential property. This waiver applies to those who make payment on or before December 31, 2020.”