THE Federal Inland Revenue Service (FIRS) has extended the deadline for companies to file their income tax returns for the 2022 Year of Assessment from June 30, 2022 to August 31, 2022.
The FIRS, in a statement it issued on Monday July 4, 2022 and signed by its Executive Chairman, Muhammad Nami, said it took the decision after receiving “numerous calls from companies for time extension to submit their Companies Income Tax (CIT) returns for 2022 year of assessment falling due on 30th June 2022.”
Nami said it had consequently given all companies whose CIT returns for 2022 year of assessment fell due between June 30 and August 31, 2022 up till August 31, 2022 to submit their returns to the Service.
The statement clarified that the extension was a one-off gesture by the Service for only the 2022 Year of Assessment on CIT returns, and that companies who filed within the period of extension would not be subjected to any late filing penalty or interest for late payment.
“Where relevant company income tax returns are not filed by the extended date, penalty and interest for late payment shall be computed from the original due date and not the extended date,” the release read.
Nami explained that the extension applied only to the filing of CIT returns and did not extend to other taxes like withholding tax, value added tax and personal income tax.
The FIRS called on the relevant taxpayers to take the opportunity of the extension to submit their CIT returns and pay their due taxes within the specified time of extension.