Nigeria: Late-filing penalty and interest relief for companies, through 30 November 2021

Late-filing penalty and interest relief is suspended through 30 November 2021, for companies with outstanding income tax returns

Late-filing penalty and interest relief for companies, through 30 November 2021

The Federal Inland Revenue Service announced that for companies with outstanding income tax returns for the 2021 year of assessment, late-filing penalty and interest relief is suspended through 30 November 2021.

Previously, the deadline for filing Naira-denominated income tax returns was extended through 31 July 2021 (from 30 June 2021) in an effort to allow for the migration to an electronic platform and to allow for reconciliation of unutilized withholding tax credits and tax losses on the platform. Read TaxNewsFlash

Accordingly, eligible taxpayers have until 30 November 2021 to complete their reconciliations via the platform and to file their income tax returns for the 2021 year of assessment.

Read an October 2021 report [PDF 628 KB] prepared by the KPMG member firm in Nigeria 

 

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