FIRS gives one-week extension for filing annual tax returns

The Federal Inland Revenue Service (FIRS) has extended the deadline for companies to file their annual tax returns by one week.

According to FIRS, this is due to the COVID-19 pandemic and Eid celebration.

The service’s spokesperson, Abdullahi Ahmad, disclosed this in a notice signed by the Executive Chairman, FIRS, Muhammad Nami.

“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 reads.

In addition, FIRS said: “For the purpose of clarity, companies that fall within this category will not be penalized 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 installmental Payment, Withholding Tax and Value Added Tax Returns.”