FIRS Extends Debt Payments to August 31

The Federal Inland Revenue Service has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30, 2020 to August 31, 2020.

The FIRS Executive Chairman, Muhammad Nami, revealed this in a statement issued on Wednesday by the agency’s Director of Communications and Liaison Department, Abdullahi Ahmad.

He said the extension was part of a number of palliative measures devised by the FIRS to cushion the effects of the COVID-19 pandemic on the Nigerian economy in order to support tax-paying individuals and businesses.

He said the extension applied to tax audit, tax investigation, desk review assessments approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated.

He said,  “Taxpayers are advised to note that there will be no further extension of this palliative measure, Tax debtors are therefore enjoined to liquidate their outstanding tax liabilities on or before August 31, 2020 in order to enjoy waiver of accumulated penalties and interests.”

He also advised all concerned individuals and businesses to contact their respective tax controller or the nearest FIRS regional Debt Management Office in case of further enquiries.

He urged those affected with the new extension to comply in order to avoid more penalties.

Oluwaseyi Olomu
the authorOluwaseyi Olomu

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