FIRS extends corporate tax filing deadline to August 31 – The Whistler Newspaper

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The Federal Inland Revenue Service has extended the deadline for submitting corporate tax returns from June 30 to August 31 this year.

The extension, according to the FIRS, became imperative following the inability of some companies to meet the initial deadline.

He said in a notice signed by the Executive Chairman, Mr. Muhammad Nami and seen by THE WHISTLER that the extension which complies with the corporate income tax law is a one-time move for only 2022 tax year corporate income tax returns.

He said: “The Federal Inland Revenue Service has received numerous calls from businesses for an extension of the deadline for submitting corporate income tax returns for the 2022 tax year due June 30, 2022 due to their failure to meet the deadline. .

“Therefore, as a measure of goodwill and in accordance with the relevant provisions of the Corporation Income Tax Act, the Service orders the following:

“All companies whose CIT declarations for 2022 YOA are due between June 30 and August 31, 2022 (both days inclusive) have until August 31, 2022 to submit the declarations to the Service.

“The extension of the due date is a one-time gesture for only YOA CIT 2022 declarations that are due as noted above; relevant CIT returns will therefore not incur a late filing penalty or late payment interest if submitted to the Service by August 31, 2022.”

“Where the relevant CIT returns are not filed by the extended date, late payment penalties and interest are calculated from the original due date and not the extended date; this filing date extension is only for CIT and does not include returns with withholding tax, value added tax, personal income tax.

The Service urged all affected taxpayers to take advantage of the opportunity provided by the extension to submit their CIT returns on time, pay the taxes due and avoid the payment of penalties and interest.

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