The Federal Inland Revenue Service (FIRS) has further 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 31st, 2020.
Executive Chairman, FIRS, Mr. Muhammad Nami, disclosed this latest extension in a statement issued on Wednesday by Director, Communications and Liaison Department, FIRS, Abdullahi Ismaila Ahmad.
Mr. Nami stated that the extension is a follow up to 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 business entities in the country.
According to Mr. Nami, 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.”
Mr. Nami added: “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 31st August, 2020 in order to enjoy waiver of accumulated penalties and interests.”