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Nigeria: Penalty and interest relief available to 31 December 2020 (COVID-19)

Nigeria: Penalty and interest relief

The Federal Inland Revenue Service on 4 November 2020 issued a notice announcing an additional period of relief from penalties and interest in response to the coronavirus (COVID-19) pandemic.

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Specifically, the notice concerns relief from penalties and interest on outstanding tax liabilities arising from self-assessments, desk reviews, tax audits, and investigations. To take advantage of this relief, taxpayers must settle their outstanding tax debts in full by 31 December 2020.

The relief applies with regard to value added tax (VAT) and income tax.


Read a November 2020 report [PDF 121 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 4366, 1801 K Street NW, Washington, DC 20006.

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