Ogun employers to pay 10% penalty over late tax remittances
By Segun Ayinde, Abeokuta
Ogun State Internal Revenue Service has urged employers of labour to ensure prompt remittance of taxes as failure to do so would attract 10% penalty of the amount including interest at the prevailing commercial rate.
The Executive Chairman OGIRS, Mr. Olugbenga Olaleye disclosed this in a public notice signed by him in Abeokuta, the state capital.
Olaleye said that the immediate remittance of applicable taxes deduced on behalf of the employees residing in the state was a step taken by the Dapo Abiodun led administration to make sure that employers of labour take the remittance seriously.
He said that employers of labour were bound by the Personal Income Tax Act (PITA), to deduct and remit emoluments of its employees to the State Internal Revenue Service, not later than 10th day of the succeeding month.
The chairman explained further that if such occurred after the stipulated date a penalty of 10% was awaiting the employers of labour who failed to have forwarded a payroll schedule, containing names, salaries paid, gross emolument and deductions made monthly.