If you are yet to remit Company Income Tax Returns for the 2021 tax year, you may want to hasten on that as the Federal Inland Revenue Service, FIRS has set November 30th, 2021 as the return date or risk penalty and interest for late filing.

This announcement signed by Muhammad Nami, the FIRS Chairman which doubles as a warning became effective Wednesday 9th September 2021 in a public notice titled “Expiration of Waiver of Late Returns Penalty and Interest on Filing of Companies Income Tax (CITA) Returns for the 2021 Year of Assessment (YOA)”,

Recall that the new date is an extension for companies to migrate to the TaxPro-Max platform made compulsory since June 2021 for filing returns on CITA for the 2021 Year of Assessment expires on November 30, 2021.

FIRS’ statement

 “To support seamless migration to the new platform/solution, the Service suspended the imposition of late returns penalty and interest on Companies Income Tax (CITA) Returns for the 2021 Year of Assessment (YOA) which were due for filing on or before 30th June 2021. This was to give room for taxpayers to reconcile their respective tax accounts, including WHT credit notes, for effective onboarding to TaxPro-Max.

“Tax Payers are by this notice directed to conclude all processes of reconciliation and submission of their Naira-denominated CITA Returns for 2021 YOA on TaxPro-Max on or before 30th November 2021.” The notice stated.

Our Opinion

  • To avoid sanctions, all concerned companies should endeavor to conclude all processes of reconciliation and submission of their Naira-denominated CITA Returns for the 2021 Year of Assessment via the TaxPro-Max platform on or before the 30th November 2021.
  • In case of technical hiccups, communication should be channeled through FIRS’ tax offices.
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