Federal Inland Revenue Service has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30, 2020 to August 31, 2020.

FIRS Executive Chairman, Mr Muhammad Nami, disclosed the extension in a statement issued on Wednesday by the agency’s Director of Communications and Liaison Department, Mr Abdullahi Ahmad.

Nami said the extension was a follow-up to a number of palliative measures devised by FIRS to cushion effects of  Covid-19 pandemic on 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.

Punch