The Federal Inland Revenue Service (FIRS) has further extended the closing date for penalty and interest waiver to August 31st, 2020 as a palliative measure meant to cushion the effects of COVID-19 on Nigerian taxpayers.
Recall that the deadline which was on or before May 31, 2020 was extended to June 30, 2020. It is now on or before August 31, 2020.
According to the agency, this extension applies to Tax Audit, Tax Investigation and Desk review assessments, Approved instalment 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. To enjoy waiver of accumulated penalties and interests, Tax debtors are therefore enjoined to liquidate their outstanding tax liabilities on or before 31st August, 2020.
FIRS further noted that taxpayers and all concerned individuals and businesses are advised to contact their respective Tax Controllers or the nearest FIRS Regional Debt Management Office for further enquiries. A list of all FIRS offices is available on their website: http://firs.gov.ng.