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.
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
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