Home Finance FIRS extends tax waiver penalty payment date – see new date

FIRS extends tax waiver penalty payment date – see new date

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FIRS extends tax waiver penalty payment date - see new date

The Federal Inland Revenue Service (FIRS) said it has extended the closing date of its waiver of penalty and interest window on tax debts owners both businesses and individuals from June 30, 2020 to August 31st, 2020.

Director, Communications and Liaison Department, FIRS, Abdullahi Ismaila Ahmad speaking on behalf of the Executive Chairman, FIRS, Mr. Muhammad Nami said this in a statement made available to the newsmen on Wednesday.

Speaking on the reason for the extension, Nami said that among the ministry’s ways of supporting taxpayers in the midst of COVID-19 pandemic is to put palliative measures in place to cushion the effect of the coronavirus outbreak on business and the Nigeria economy.

Giving further details on the extension, he said the latest 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.”

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“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 a waiver of accumulated penalties and interests”, he said.

He further said that the ministry has made life easy and more convenient paying the revenue as taxpayers can now visit the website of the ministry for the list of all offices available.

Every affected individuals and business are to contact their respective Tax Controller or the nearest FIRS Regional Debt Management Office in case of further enquiries”, noting that “a list of all our offices is available on our website: www.firs.gov.ng”.

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