The Federal Inland Revenue Service, FIRS, has issued August 31, 2022 as deadline for all companies to submit returns of their Companies Income Tax, CIT, Fresh Angle International can report.
The Service, explained that the ‘partly’ extension of due date for submission of companies’ income tax returns for 2022 year of assessment, was due to numerous calls from companies, after failing to meet the initial June 30 deadline.
The statement released today, Monday July 4, by the Executive Chairman, Federal Inland Revenue Service, Muhammad Nami, noted: “The extension of the due date is a one-off gesture for only 2022 YOA CIT returns which are due as aforesaid;
“The relevant CIT returns shall, therefore, not attract Late Filing Penalty or interest for late payment if submitted to the Service on or before 31st August 2022;
“Where relevant CIT 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 extend ed date;
“This extension of filing date is only for CIT and does not include returns for with-holding tax, value added tax, personal income tax (PAYE), etc. The Service invites all relevant taxpayers to take the opportunity afforded by this extension to submit their CIT returns within the specified time, pay the taxes due and avoid payment of penalty and interest”.
Copyright: Fresh Angle International (www.freshangleng.com)
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Ossai Rita Ashinedu
Our Correspondent , Ossai Rita Ashinedu, has Ordinary National Diploma in Mass Communication from Delta State Polytechnic, Ozoro. She can be reached on 07061927586
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