The Federal Inland Revenue Service (FIRS) has extended filing of Companies Income Tax Returns for the 2022 Year of Assessment from June 30 to August 31, 2022.
A statement by Johannes Oluwatobi Wojuola, Special Assistant to the FIRS executive chairman (Media & Communication), on Monday, quoted FIRS Executive Chairman Muhammad Nami as saying that the extension was done after receiving “numerous calls from companies for the extension of time to submit the Companies Income Tax (CIT) returns for 2022 year of assessment falling due on 30th June 2022.”
The statement reads in part, “It went further to state that the extension is a one-off gesture by the Service for only the 2022 Year of Assessment on Company Income Tax Returns and that Companies who filed within this period of extension would not be subject to Late Filing Penalty or interest for late payment.
“The 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 31st August 2022;
“Where 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,” the press release said.
Mr. Nami, however, explained that the extension only applies to the filing of Companies Income Tax Returns but does not extend to other taxes.
“This extension of filing date is only for CIT and does not include returns for withholding tax, value added tax, personal income tax (PAYE), etcetera.”
