On 2 June, 2020, the Federal Inland Revenue Service (FIRS) issued 3 public notices to taxpayers.
Here are the highlights:
Public Notice 1: The FIRS is further extending the deadline for settling outstanding tax liabilities from self assessments, tax audits/investigations/ reviews and VAIDS from the earlier provided deadline of 31 May 2020, to 30 June 2020. FIRS, by this Public Notice, is asking taxpayers owing any such taxes to settle on or before 30 June 2020 in order to qualify for waivers of interest and penalty.
Public Notice 2: The FIRS is asking all Nigerian and non-Nigerian businesses to keep proper accounting records in English language or risk penalties according to the tax laws.
Public Notice 3: The FIRS is to resume activities relating to previously done tax audits, immediately. Field visits for tax audits/ investigation/ monitoring to resume on 30 June 2020.
For further enquiries or help with your tax concerns, please contact us via firstname.lastname@example.org