On 30 November 2021, the Federal Inland Revenue Service (FIRS) announced in a communique that it was granting an additional and final 1-month extension of its waiver of penalties and interest for companies with outstanding 2021 year of assessment companies income tax returns.
While previously the waiver was limited to the 2021 year of assessment tax returns, the 30 November communique provides that the waiver applies to ALL taxes arising from previous years’ assessments.
Eligible companies have until 31 December 2021 to submit all outstanding returns and pay their liabilities.
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