FIRS felicitates with Muslims, gifts companies extension for filing returns

As the Muslim world celebrates the Eid-el-Kabir today, the Federal Inland Revenue Service (FIRS) has joined the rest of the country to felicitate with Muslims nationwide.
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, the FIRS has extended the deadline for filing of returns in a number of tax categories.
A public notice signed by the Executive Chairman, FIRS, Mr. Muhammad Nami, reads: “the Management of Federal Inland Revenue Service (FIRS) wishes to felicitate with Nigerians on this occasion of the Eid-el-Kabir celebration. 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.
“In furtherance of this, and, in addition to a number of COVID-19 palliatives already in place, as well as in the spirit of this Eid celebration, we hereby grant a further one-week extension from the 31st July 2020 deadline for Companies with December accounting year end to file their Year 2020 annual Income Tax Returns”.
The notice added: “For the purpose of clarity, 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, 1st August 2020 to 7th August 2020 as herein granted.
“In a similar vein, 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.
“FIRS will continue to respond proactively to the realities of these times, towards easing the burden of our esteemed taxpayers. Happy Eid -el-Kabir.”