Economy
Deadline for late CIT returns now November, 30 – FIRS
The Federal Inland Revenue Service (FIRS) has imposed 30th November, 2021 as deadline for
expiration of waiver of penalty and interest for companies with outstanding companies income tax (CIT) returns for 2021 year of assessment (YOA).
This was disclosed in a public notice issued that effect and obtained by CAPITAL POST in Abuja alerting companies of the development.
The revenue agency has earlier extended the deadline for filing Naira-denominated CIT returns from 30 June 2021 to 31 July 2021.
The extension was to allow unrestricted migration to TaxPro-Max and reconciliation of unutilized withholding tax (WHT) credits and tax losses on the platform. Read our Tax Alert Issue No. 7.1 of July 2021 for further details.
The eligibility for waiver of late filing of penalty and interest, the agency said, has been extended till November 30.
Companies are advised to conclude their outstanding reconciliations on TaxPro-Max and file their 2021 YOA CIT returns accordingly on or before the deadline.
