FIRS Extends Submission Deadline Of Annual Returns For Taxpayers

The Federal Inland Revenue Service (FIRS) has extended the deadline for filing of returns in a number of tax categories.

It said it has granted a further one-week extension from July 31, 2020 deadline for companies with December accounting year end to file their year 2020 annual Income Tax Returns.

Its Director, Communications and Liaison Department, Abdullahi Ahmad, in a statement, said companies that fall within this category will not be penalised for late submission, if they file their Year 2020 Income Tax Returns within the grace period, that is, August 1, 2020 to August 7, 2020 as herein granted.

Also Read: LIRS To Give Extra Tax Incentives, Reliefs To Taxpayers in Lagos State

Similarly, the one-week grace period is extended to regular monthly obligations that become due at the end of July 2020, for example, Petroleum Profits Tax instalmental Payment, Withholding Tax and Value Added Tax Returns.

The FIRS said it is granting the extension “in the spirit of the 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”.

It noted that it will continue to respond proactively to the realities of these times towards easing the burden of our esteemed taxpayers.