Reprieve has come for tax debtors as the Federal Inland Revenue Service (FIRS), has extended the deadline on waiver of penalty and interest window on tax debts, by individuals and businesses from Jun 30, 200 to August 31, 2020.
Mr. Muhammad Nami, Executive Chairman, FIRS, disclosed this information with the extension dates, in a statement issued on Wednesday, by the Director, Communications and Liaison Department at FIRS, Abdullahi Ismaila Ahmad.
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Nami stated that this extension was a follow-up to a number of palliatives devised the Service to ease up 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 Nami, the latest extension applies to “Tax Audit, Tax Investigation and Desk review assessments, Approved installment payment plans under Voluntary Assets and Income Declaration Scheme (VAIDS) yet to be fully liquidated.”
He added: “Taxpayers are advised to note that there will be no further extension of this palliative measure.”
