{"id":47315,"date":"2022-07-04T19:50:28","date_gmt":"2022-07-04T18:50:28","guid":{"rendered":"https:\/\/dailynews24.ng\/?p=47315"},"modified":"2022-07-04T19:50:28","modified_gmt":"2022-07-04T18:50:28","slug":"income-tax-returns-firs-extends-due-date-for-coys","status":"publish","type":"post","link":"https:\/\/dailynews24.ng\/income-tax-returns-firs-extends-due-date-for-coys\/","title":{"rendered":"Income Tax Returns: FIRS extends due date for coys \u00a0"},"content":{"rendered":"
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The Federal Inland Revenue Service (FIRS), has extended the deadline for filing of Companies Income Tax (CIT) returns for 2022 assessment from June 30 to August 31.<\/span><\/strong><\/p>\n<\/header>\n

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This is contained in a statement issued on Monday in Abuja by Mr Johannes Wojuola, the Special Assistant on Media and Communication to the Executive Chairman, FIRS, Muhammad Nami.<\/p>\n

Wojuola said that the extension was to enable companies that were unable to meet up earlier to do so.<\/p>\n

FollowTaxes organizes Media Round Table on domestication of FOI Act in Kaduna<\/a><\/p><\/blockquote>\n

He said FIRS took the decision after receiving numerous calls from companies for the extension of time to submit the CIT returns for 2022.<\/p>\n

Wojuola said that the decision was reached as a measure of goodwill and in line with relevant provisions of the Companies Income Tax Act.<\/p>\n

\u201cThe FIRS has directed that all companies which CIT returns for 2022 Year Of Assessment, that falls due between June 30 and August 31, 2022, are given up to August 31, 2022 to submit their returns to the Service,\u2019\u2019 he said.<\/p>\n

The special assistant said that the extension was a one-off gesture by the Service for only the 2022 Year of Assessment on Company Income Tax Returns.<\/p>\n

According to him, companies that filed within this period of extension would not be subject to late filing penalty or interest for late payment.<\/a><\/p>\n

\u201cThe relevant Company Income Tax returns shall, therefore, not attract late filing penalty or interest for late payment if submitted to the Service on or before August 31, 2022.<\/p>\n

\u201cWhere relevant Company Income Tax 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 extended date;\u201d it said<\/p>\n

The statement quoted Nami as saying \u201cthe extension only applies to the filing of Companies Income Tax Returns but does not extend to other taxes.<\/p>\n

\u201cThis extension of filing date is only for CIT and does not include returns for withholding tax, value added tax, personal income tax (PAYE), etcetera,\u201d it said.<\/p>\n

The FIRS urged relevant taxpayers to take opportunity of the extension to submit their CIT returns and pay their due taxes within the specified time of extension. (NAN)<\/p>\n