Waiver of penalty and interest on Tax Liabilities from 2013 to 2015

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FIRS declares tax amnesty for defaulting taxpayers. Interest and penalty waived, covers 3 years, available for 45 days.

As part of the efforts of the Federal Inland Revenue, Service (FIRS) to promote voluntary compliance and shield taxpayers from the burden of carrying forward old tax liabilities arising from penalty and interest , the Service wishes to announce as follows:

1. That the FIRS in exercise of its powers under Section 85 (3) of the Companies Income Tax Act CAP C21  LFN 2007 (as amended)(and replicated in Section 32(3) of the Federal Inland Revenue Services Establishment Act(FIRSEA 2007) hereby invites all principal officers and all company owners or their representatives, to take advantage of a Special Window to avoid payment of penalty and interest on tax due between 2013-2015.

2. That FIRS, by this Public Notice, will grant a pardon stretching back to three years (2013-2015) to ALL TAXPAYERS in default, provided that such defaulting taxpayers: 

(a)  come forward to declare their indebtedness within the 45-day window
(b) present a payment plan on the outstanding Principal Tax Liability acceptable to the Federal Inland Revenue.

3. That this Special Window will be opened  for 45days ONLY, commencing 5th of October, 2016 terminating 24th November 2016;

4. That this waiver relates ONLY to accumulated penalty and interest and not principal tax due.

5. Based on this waiver, part payment/full payment of undisputed tax liabilities should be paid, while the balance can be paid installmentally , however, it is expected that a reasonable amount of not less than 25 percent should be paid on account;

By this Public Notice, FIRS invites taxpayers who have not been fulfilling their statutory tax obligations, to take advantage of this Special Window, failing which all legal means at the disposal of the FIRS will be deployed including criminal prosecution of Board and Management of defaulting organizations.

Applicants who want to take advantage of this Special Window should forward their applications to:

Office of the Executive Chairman

Fedral Inland Revenue Services, FIRS

29 Sokode Crescent 

Wuse Zone 5

Abuja

Contact:

Mathew Osanekwu                                    Hamed Yekini

080387662277, 08115906357                  08034435655

matthew.osanekwe@firs.gov.ng               hamed.yekini@firs.gov.ng 

                                                           Signed:

                                                        Tunde Fowler

                                                      Executive Chairman

                                               Federal Inland Revenue Services