In furtherance of its efforts to cushion the effects of the Covid-19 pandemic on taxpayers, the Federal Inland Revenue Service (FIRS) has through a public notice, issued an update on the palliatives being rolled out by the Service. In the notice, the agency informed taxpayers with outstanding tax arrears which arise as a result of a desk review, tax audit and investigation that the interest and penalty on such tax debts will be waived if they pay in full not later than 31st May, 2020. The revenue collecting agency emphasized that the concession is only valid if full payment is made on or before the end of May 2020.
FIRS further reassured the public that a continuous support will be provided to all Taxpayers as directed by President Muhammadu Buhari in his latest speech on the broadcast.
The Executive Chairman advised Taxpayers in need of further advice to contact the Tax Controller where their tax files are domiciled.