Nigeria: Extended deadline for waiver of interest and penalties on company tax liabilities
Eligible companies have until 31 December 2021 to submit all outstanding returns and pay the resulting tax liabilities
Eligible companies have until 31 December 2021 to submit all outstanding returns
The Federal Inland Revenue Service (FIRS) 30 November 2021 announced a one-month extension of the waiver of penalties and interest for companies with outstanding income tax returns.
The scope of the waiver has been expanded to include all taxes arising from previous years’ assessments.
Consequently, eligible companies have until 31 December 2021 to submit all outstanding returns and pay the resulting tax liabilities, including previous years’ assessments, to qualify for the penalty and interest relief.
Read a November 2021 report [PDF 224 KB] prepared by the KPMG member firm in Nigeria
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.