FIRS extends filing of income tax returns till July 31

The Federal Inland Revenue Service (FIRS) has announced an extension for the filing of company income tax returns by taxpayers with December 31, 2020, accounting year-end.

The agency announced this in a statement signed by Abdullahi Ismaila Ahmad, its director of communications and liaison department, on Thursday.

Initially, the dealine for filing of the returns was June 30, 2021.

Ahmad said the deadline which was extended till July 31, 2021 was made public in a notice on Wednesday signed by Muhammad Nami, FIRS executive chairman.

In the notice, Nami said the extension is to provide an opportunity to all taxpayers whose company income tax returns were due in June.

“This extension suspends corresponding Late Returns Penalty and interest for late filing for the period of the extension provided that the filing process is concluded on the FIRS TaxProMax Platform and the tax due is paid using the Payment Reference Number (PRN) on or before 31st July 2021,” he said.

“The extension also provides an opportunity to taxpayers to upload all unused WHT credit notes into the TaxProMax not later than 31st July 2021.”

According to the statement, FIRS granted the 30-day extension as a result of glitches experienced on its recently deployed TaxProMax platform solution by some taxpayers while trying to complete their annual filing processes.

He said the platform has been upgraded to address challenges experienced by taxpayers.

“The TaxProMax has been upgraded as follows: Payment on Accounts: The upgrade enables taxpayers to make payment on account i.e. pay tax on account pending an assessment,” Nami said.

“The system will apply such advance tax payment to a future assessment; Validity of Payment Reference Number (PRN) formerly Document Identification Number (DIN): The PRN will remain valid until the due date of filing of the relevant tax returns; and Branch Payment: Companies can effect VAT & WHT payments using the “Branch TIN”.

“Note that the use of Branch TIN is only for VAT & WHT; the main CIT returns must be filed using the company TIN for the Tax Office hosting the main tax file.”

Nami added that “the Service had taken note of the very good progress recorded in the implementation of the TaxProMax Solution which was introduced for ease of tax compliance in fulfilling taxpayers obligations”.

The FIRS chairman expressed gratitude to the taxpayers and the general public for the encouraging acceptance of the solution and the feedback.

He said a situation room for resolving issues on a “real-time” basis for improved taxpayer experience of the solution has been established.

Nami added that taxpayers and other stakeholders can make necessary enquiries from the situation room via email address: taxpromax.firs.gov.ng.