By Modupe Gbadeyanka
Companies and business owners in Delta State have been urged to file their annual tax returns for the year 2017.
This call was made by the Delta State Board of Internal Revenue (DBIR).
The agency noted that furtherance to the provision of the Personal Income Tax Act 2011 (LFN) as amended, all organisations in Delta State are required to furnish our office with employers Annual Tax Returns for 2017 tax year.
It explained that the Annual Tax Return is a statutory requirement pursuant to section 81 (2) and (3) of the personal Income Tax Act 2011 (LFN) as amended.
DBIR emphasised that sections states Inter alia:
SECTION 81 (2).
“Every employer shall be required 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 preceeding year.
SECTION 81 (3)
“Any employer who contravenes the provision of this section shall be liable on conviction to a penalty of N500,000.00 in the case of a corporate body and N50,000.00 in the case of an Individual.”
The agency said all organizations are required to complete the tax form H1 and forward same to the office of the Executive Chairman, Delta State Board of Internal Revenue, using the attached formats.
It said “these forms can be collected in our office upon request,” adding that the annual tax returns should be submitted in both soft and hard copies with the following documents.
- Photocopies of Receipt (s) of PAYE Payments from January -December 2016.
- Evidence of Directors Tax payment for 2014, 2015 and 2016.
- Photocopies of Receipt of Withholding taxes from January -December 2016.
- Evidence of Payment of Business Premises/Renewal for the year 2016
- Evidence of Payment of Development Levy for the year 2016
- Copy of Lease Agreement and Rent Receipt for your office space.
- Salary Payroll Projection for the year 2017.
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