Eid-el-Kabir: FIRS Grants 1-Week Extension for Filing of Returns
The Executive Chairman,Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, Thursday announced a further one-week extension to the July 31 deadline for companies with December accounting year end to file their 2020 annual income tax returns.
He said the extension was in the spirit of the Eid-el-Kabir festivities and further to earlier palliative measures rolled out by the service in support of the Nigerian taxpayers against the backdrop of the COVID-19 pandemic.
Nami said companies that the affected companies will not be penalized for late submission, if they file their income tax returns within the grace period of between August 1-7 2020.
In a statement by Director, Communications and Liaison Department,FIRS, Dr. Abdullahi Ahmad, the EC also granted a one-week grace period to regular monthly obligations that become due at the end of July 2020, particularly the petroleum profits tax installment payment, withholding tax and Value Added Tax (VAT) returns.
He said:”We thank the Almighty God for sparing our lives to witness yet another Sallah festival especially in this year that has been very difficult for individuals and businesses. Nonetheless, the service will continue to identify with the challenges of the times, which the taxpayers are going through.
“FIRS will continue to respond proactively to the realities of these times, towards easing the burden of our esteemed taxpayers. Happy Eid -el-Kabir.”
Written By: Kolawole Joseph