THE Federal Inland Revenue Service (FIRS) has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30 to August 31, 2020.
Its Executive Chairman, Mr. Muhammad Nami, in a statement signed by Director, Communications and Liaison Department, FIRS, Abdullahi Ismaila Ahmad, stated that the extension is a follow up to some palliative measures devised by the FIRS to cushion the effects of the COVID-19 pandemic on the economy to support tax-paying individuals and business entities in the country.
According to Nami, the latest extension applies to “tax audit, tax investigation and desk review assessments, approved installment payment plans under Voluntary Assets and Income Declaration Scheme (VAIDS) yet to be fully liquidated. Taxpayers are advised to note that there will be no further extension of this palliative measure.”
Tax debtors have been advised “to liquidate their outstanding tax liabilities on or before 31st August, 2020 in order to enjoy waiver of accumulated penalties and interests.”
He also advised concerned individuals and businesses to contact their tax controller or the nearest FIRS Regional Debt Management Office in case of further enquiries, stressing that a list of all our offices is available on www.firs.gov.ng.