The Federal Inland Revenue has issued a 7 days deadline to tax defaulters in Nigeria.
The FIRS informed all taxpayers who are in default of payment of taxes to pay up. Individuals, partnerships, enterprises, corporate organisations, Ministries, Departments and Agencies. This tax include self-assessment, tax audit, tax investigation, transfer pricing audit, demand notices and any other liabilities.
FIRS will commence a nationwide tax enforcement exercise from December 18, 2019. This is with a view to prosecuting defaulters and recovering all outstanding tax liabilities.
With this notice , tax defaulters in Nigeria have up to 31st of December to tidy up their tax liabilities. Or face inconveniences or interruptions in their operations.
According to the statement signed by the Head of Communication, FIRS. Wahab Gbadamosi while quoting the acting Executive Chairman, FIRS, Mr Abiodun Aina. He said, the service had concluded plans to begin tax enforcement against defaulters, if they continued to fail in fulfilling their tax obligations.
According to Aina, the enforcement was pursuant to the provisions of Sections 8, 26 (2), 33 and 35 of the FIRS (Establishment Act, 2007). The taxes covered by the enforcement were Petroleum Profits Tax, Companies Income Tax, Value Added Tax. Withholding Tax, Tertiary Education Tax, NITDA Levy, Stamp Duty and Capital Gains Tax.
All taxpayers, either private or public are therefore strongly advised to settle their tax liabilities within seven days of the notice, so as to avoid any inconveniences or interruptions in your operations.