The Nigerian Tax authority, the Federal Inland Revenue Authority (FIRS) announced the deployment of their new automated tax administration system.
The Public Notice announced that this system will be deployed and connected to the relevant taxpayers’ systems only as from 30 April 2021.
This automated tax administration solution is a tool that the tax authority will use to access, for tax purposes, relevant records, data or information stored or otherwise residing in computers or other electronic devices (including cloud computing facilities) maintained, operated, controlled or owned by relevant persons or their agents.
The connection shall include relevant point of sales or invoicing platforms of all taxable persons (individuals, enterprises, companies and entities).
Relevant persons will be required to grant FIRS access to all computers, electronic devices or cloud computing facilities wherein records, data or information are stored or otherwise residing.
Should a taxable person refuse to grant the necessary access, penalties will apply.
It is expected that FIRS will soon issue a guideline on how the integration process will happen, we shall keep you posted.
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