RSHA Passes Withholding Tax Bill

The Rivers State  With holding Tax Bill  (HA 6), 2021 has been passed into law.
The bill which is aimed at giving powers to the State Government to collect withholding taxes from eligible persons had gone through first reading on the floor of the Rivers State House of Assembly last week.
The Speaker of the House, Rt Hon Ikuinyi-Owaji Ibani,  in his remarks, yesterday, said the bill seeks to authorise the Rivers State Government to impose and collect withholding taxes from eligible persons such as ministries, departments, agencies, parastatals, statutory bodies, institutions and other established organisations in the State. 
The Rt Hon. Speaker also stated that the  bill was in conformity  with the recent judgement of the Federal High Court, which validated the powers of the Rivers State Government to collect withholding Tax.
The Speaker noted that the objective of the bill when passed by the House is to help the State Government to generate more  revenues for  development projects,  improve the progress, security and well-being of the State and its residents.
He assured that it will help provide jobs and ensure the revenue base of government, to implement more developmental projects.
The bill was presented in plenary  by the Leader of the House, Hon. Martin Amaewhule.

By: Kevin Nengia