As part of measures to mitigate hardship occasioned by coronavirus on Nigerians, 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.
It explained that the extension had become imperative to support individuals and businesses who had been hardest hit by outbreak of the deadly respiratory disease and create an enabling environment for businesses opening its doors to customers after months of lockdown.
The Executive Chairman of FIRS, Mr. Muhammad Nami, said that further deliberations with other stakeholders and government parastatals and careful considerations of the current realities informed the extension.
Nami, through a statement released on Wednesday by FIRS Director, Communications and Liaison Department, Abdullahi Ahmad, disclosed that the extension would serve as the last of its kind as no further extension will be given.
He, however, enjoined tax debtors to liquidate their outstanding tax liabilities on or before August 31 in order to enjoy a waiver of accumulated penalties and interests.
“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 a tax audit, tax investigation and desk review assessments, approved installment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated,” the statement read.
Nami advised all concerned individuals and businesses to contact their respective tax Controller or the nearest FIRS Regional Debt Management Office in case of further inquiries adding that a list of all FIRS offices was available on the service website: www.firs.gov.ng.