RE: SECTION 55, COMPANIES INCOME TAX ACT (LFN C21, 2004) – EXTENSION OF TIME TO FILE 2021 YEAR OF ASSESSMENT (YOA) INCOME TAX RETURNS




PUBLIC NOTICE

The FIRS has noted the very good progress recorded in the implementation of the TaxProMax Solution which was introduced for ease of compliance and to delight taxpayers while fulfilling their statutory obligations.  The Service wishes to thank taxpayers and the general public for thewarm reception accorded the Solution and the very encouraging feedbacks.

The implementation challenges reported have been promptly resolved by the Implementation Team.  A Situation Room for resolving issues on “real-time” basis is up and running.  All of these measures will further improve taxpayers’ experience while using the Solution.The TaxProMax has been upgraded as follows:

  1. Payment on Accounts: The upgrade enables taxpayers to make payment on account i.e. pay on account pending an assessment.  The system will apply such advance payment to a future assessment.
  • Validity of Payment Reference Number (PRN) formerly Document Identification Number (DIN): The PRN will remain valid until midnight of the due date of filingof the relevant return.
  • Branch Payment: Companies can effect &Withholding Tax (WHT) payments using the “Branch TIN”.  Note that the use of Branch TIN is only for & WHT; the main CIT returns must be filed using the company TIN for the Tax Office hosting the main tax file.

The Service understood that, due to the initial learning experience, some taxpayers encountered challenges in completingthe returns-filing process,and uploading WHT credit notes.  As such,

  1. all companies whose income tax returns for 2021 YOA fall due on30th June 2021 are granted a (one-off)one-month extension (with Late Filing Penalty (LRP) and interest for late payment suspended) until 31st July 2021;provided the filing process is concluded on TaxProMaxandtax due is paid using the PRN not later than 31st July 2021, and
  • the period for uploading WHT credit notes unto the TaxProMax is extended by one month to 31st July 2021.

Signed

Muhammad Nami

Executive Chairman

Federal Inland Revenue Service

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