Again, FIRS Extends Tax Debt Payments to August 31

By Adedapo Adesanya

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.

Business Post had reported earlier that the tax body had shifted the initial deadline of March 31, to June 30 in order to accommodate businesses and individuals, who were affected by the headwinds of the coronavirus pandemic.

Now, the FIRS Director, Communications and Liaison Department, Mr Abdullahi Ahmad, said in a statement in Abuja on Wednesday that the agency has further extended the deadline.

Quoting the Executive Chairman of FIRS, Mr Muhammad Nami, the statement said, “The extension is a follow up to a number of palliative measures devised by the service to cushion the effects of the COVID-19 pandemic on the Nigerian economy and to support tax-paying individuals and business entities in the country.

“The latest extension applies to tax audit, tax investigation and desk review assessments, approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated.”

However, the FIRS boss said that there will be no further extension of this palliative measure as penalties will be awarded after this latest adjustment.

He said tax debtors were, therefore, enjoined to settle their outstanding tax liabilities on or before August 31 in order to enjoy a waiver of accumulated penalties and interests.

He then 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 adding that a list of all our offices was available on their website: www.firs.gov.ng.