The Federal Inland Revenue Service (FIRS) has issued a public notice, notifying taxpayers that it will resume Audit, Investigations and Monitoring exercises earlier suspended on April 6, 2020 as one of the measures to cushion the effect of COVID-19 pandemic. This the Service said is necessitated by current economic realities which require concerted efforts towards assisting the Federal Government to mobilize the revenue needed for national development.
The resumption is divided into two (2) phases as follows:
A. Phase 1
Immediate continuation of reconciliation of findings/liabilities arising as a result of:
- Desk reviews
- Monitoring visits
- Tax audit and
- Tax investigation
B. Phase 2
Field visits in respect of monitoring, tax audit and tax investigation will resume effective from June 30, 2020.
The Service used the opportunity to commend taxpayers who have filed their returns and paid their taxes either physically or electronically despite the COVID-19 scourge.