Tax debtors/defaulters have till August 31 to pay to avoid penalty-FIRS

The Federal Inland Revenue Service has given tax debtors/defaulters till August 31, 2020 to pay up before the hammer of the Federal Inland Revenue Service (FIRS) descends on them.

The FIRS which extended the window of its waiver of penalty and interest on tax debts owned by individuals and businesses from June 30, 2020 to August 31, 2020, said the extension was to get those in default to discharge their obligations.

Muhammad Nami, FIRS executive chairman, disclosed the extension in a statement issued on Wednesday by Abdullahi Ahmad, the agency’s director of communications and liaison department.

Nami said the extension was 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 businesses.

He said the extension applied to tax audit, tax investigation and desk review assessments.

Others include approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated.

He was quoted in the statement as saying, “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 August 31, 2020 in order to enjoy waiver of accumulated penalties and interests.”

He also 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.

Nami stressed that a list of all the agency’s offices was available on the FIRS website.

He further enjoined those affected by the new extension to comply in order to avoid accumulated penalties.