The window of opportunity for “waivers of penalties and interest on outstanding taxes arising from desk examinations, audit exercises, investigations, or all other forms of tax assessment” will close on December 31, 2020.
A statement released by Director, Communications, and Liaison, Abdullahi Ismaila Ahmad, Federal Inland Revenue Service, FIRS, said the FIRS urged taxpayers in the country to take advantage of the remaining days to settle their tax obligations in order to enjoy all subsisting waivers offered thereof by the Service.
A public notice by the Commission reads: “The Service wishes to put all taxpayers on notice that the last window of opportunity for the waiver of outstanding penalties and interest on all taxes collectible by the Federal Inland Revenue Service shall close on 31st December 2020.
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“Consequently, all concerned taxpayers are hereby put on notice that after the expiration date of 31st December 2020, the Service shall recover all outstanding debt with penalties and interest, in accordance with the provisions of the extant tax laws such as “the power of substitution” conferred on it by Section 31 of the Federal Inland Revenue Service (Establishment) Act 2007.”