FIRS extends tax deadline for companies

Muhammad Nami, FIRS boss
Muhammad Nami, FIRS boss

The Federal Inland Revenue Service (FIRS) on Thursday announced the extension of the deadline for filing of returns in a number of tax categories.

It said this is in the spirit of the festivities and further to earlier measures rolled out by the Service in support of taxpayers against the backdrop of the COVID-19 pandemic.

According to a statement by the service’s spokesperson, Abdullahi Ahmad, the disclosure was made in a public notice signed by the Executive Chairman, FIRS, Muhammad Nami.

The service said it was granting a one-week extension from July 31 deadline for companies with December accounting year-end to file their Year 2020 annual Income Tax Returns”.

The public notice read in parts:

“The Management of Federal Inland Revenue Service (FIRS) wishes to felicitate with Nigerians on this occasion of the Eid-el-Kabir celebration. We thank the Almighty God for sparing our lives to witness yet another Sallah festival especially in this year that has been very difficult for individuals and businesses. Nonetheless, the Service will continue to identify with the challenges of the times, which the taxpayers are going through.

“In furtherance of this, and, in addition to a number of COVID-19 palliatives already in place, as well as in the spirit of this Eid celebration, we hereby grant a further one-week extension from the 31st July 2020 deadline for Companies with December accounting year-end to file their Year 2020 annual Income Tax Returns”.

The notice added: “For the purpose of clarity, companies that fall within this category will not be penalized for late submission, if they file their Year 2020 Income Tax Returns within the grace period, that is, 1st August 2020 to 7th August 2020 as herein granted.


READ ALSO: $1.04 trillion Fine: Why we disagree with FIRS — MTN

“In a similar vein, the one-week grace period is extended to regular monthly obligations that become due at the end of July 2020, for example, Petroleum Profits Tax installmental Payment, Withholding Tax and Value Added Tax Returns.

“FIRS will continue to respond proactively to the realities of these times, towards easing the burden of our esteemed taxpayers. Happy Eid -el-Kabir.”

The FIRS has come under criticisms lately after announcing the introduction of a new tax on house rents.

Many Nigerians have accused it of insensitivity amidst the Covid-19 pandemic, governments elsewhere have offered reliefs to citizens.



Advertisement

PT Mag Campaign AD

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...



BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application