FIRS extends filing for 2021 Income Tax Returns till end July

SHARE

Companies yet to file their 2020 income tax returns with the Federal Inland Revenue Service,FIRS, by end of June have been granted a one-month extension.

This extension was contained in a Public Notice of 30th June 2021 issued by the Executive Chairman of FIRS, Mr Muhammad Nami.   “This extension is to provide an opportunity to all taxpayers whose company Income Tax returns were due in June 2021 to file up to the 31st July 2021. This extension suspends corresponding Late Returns Penalty and interest for late filing for the period of the extension provided that the filing process is concluded on the FIRS TaxProMax Platform and the tax due is paid using the Payment Reference Number (PRN) on or before 31st July 2021. The extension also provides an opportunity to taxpayers to upload all unused WHT credit notes into the TaxProMax not later than 31st July 2021,” said Nami.

Advertisements

The FIRS granted the 30-day extension as a result of glitches experienced on its recently deployed TaxProMax Platform Solution by some taxpayers while trying to complete their annual filing processes. Mr Nami stated that “the Service had taken note of the very good progress recorded in the implementation of the TaxProMax Solution which was introduced for ease of tax compliance in fulfilling taxpayers obligations”. He expressed gratitude to the taxpayers and the general public for the encouraging acceptance of the Solution and the feedback. He then pointed out that a Situation Room for resolving issues on a “real-time” basis for improved taxpayer experience of the Solution has been established. Taxpayers and other stakeholders can make necessary enquiries from the Situation Room via email address: taxpromax.firs.gov.ng.

Advertisements

Nami also stated that in response to the challenges experienced by taxpayers, “the TaxProMax has been upgraded as follows: Payment on Accounts: The upgrade enables taxpayers to make payment on account i.e. pay tax on account pending an assessment. The system will apply such advance tax payment to a future assessment; Validity of Payment Reference Number (PRN) formerly Document Identification Number (DIN): The PRN will remain valid until the due date of filing of the relevant tax returns; and Branch Payment: Companies can effect VAT & WHT payments using the “Branch TIN”. Note that the use of Branch TIN is only for VAT & WHT; the main CIT returns must be filed using the company TIN for the Tax Office hosting the main tax file.”

Advertisements
Advertisements

 

YOU MAY ALSO LIKE:  BBNaija’s Erica offers apologises for her outbursts

 

Advertisements