The Federal Inland Revenue Service (FIRS) issued guidance announcing a waiver of penalties and interest on certain tax arrears for the periods between 2013 and 2015.
Taxpayers, in order to be eligible for the penalty and interest waiver, must declare the tax indebtedness within a 45-day period, from 5 October 2016 to 24 November 2016, and must present an acceptable payment plan for resolving the tax liability. The liability can either be paid in full or paid in installments, and if paid in installments, the first installment is to be no less than 25% of the principal amount due.
Under guidance issued in October 2016, taxpayers can file their tax returns at the FIRS tax office closest to their place of business or another preferred location. Taxpayers that want to change the tax office where they file their returns must notify the Tax Controller and request a transfer of their tax files to the new tax office.
Read an October 2016 report [PDF 65 KB] prepared by the KPMG member firm in Nigeria
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