Federal Inland Revenue Service has extended the deadline set to waive interests accruable to debts as well as the related penalties for defaulting taxpayers if they fully settle their indebtedness on or before May 31.
Nami urged taxpayers “having outstanding tax liabilities arising from self-assessment filing, tax audit, tax investigation, and tax review assessments as well as approved installment payment plans under VAIDS that have not been complied with or are partially complied with, to take advantage of the new window to avoid a situation whereby earlier approved incentives will be withdrawn by the service.
The moves are part of FIRS’ efforts to mobilise resources for the federal government whose fiscal power has been badly impaired by the drastic fall in global oil prices occasioned by the outbreak and spread of the COVID-19 pandemic.
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