FIRS public notice on payment of outstanding foreign currency tax liabilities in Naira

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In view of the number of requests, inquiries and the challenges encountered by the taxpaying public in sourcing for foreign currencies to offset

outstanding tax liabilities, the Federal Inland Revenue Service has announced that a one-month window has now been opened for this category of taxpayers to settle their foreign currency tax liabilities in Naira with effect from the 1st of March, 2022 to 31st of March, 2022.

The applicable rate shall be the Investors and Exporters foreign exchange rate of the Central Bank of Nigeria prevailing on the date of the transaction and or when the tax obligation falls due.

 

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