News

FIRS Extends Due Date For Filing 2023 Companies Income Tax Returns

FIRS has extended the due date for filing 2023 Companies Income Tax Returns.

 

Glamtush reports that Companies that were unable to file their Companies Income Tax returns for the 2023 year of assessment (YOA) that fell due on the 30th of June 2023 have been given up to 31st August, 2023 to submit their returns to the Federal Inland Revenue Service (FIRS).

The FIRS in a Public Notice signed by its Executive Chairman, Mr. Muhammad Nami, and issued today stated that it had received numerous calls from companies requesting for the extension of time to submit their Companies Income Tax (CIT) returns as they were unable to meet up with the deadline due on 30th June 2023.

It noted that as a measure of goodwill and in line with relevant provisions of the Companies Income Tax Act, “all companies whose CIT returns for 2023 year of assessment that fall due between 30th June and 31st August, 2023 (both days inclusive) are given up to 31st August, 2023 to submit the returns to the Service.”

The FIRS noted that the relevant Companies Income Tax returns will not attract late filing penalties or interests if payments were made on or before 31st August 2023, noting further that where companies fail to file by the extended date, the penalty and interest for late payment will be computed from the original due date.

“The relevant CIT returns shall, therefore, not attract Late Filing Penalty or interest for late payment if submitted to the Service on or before 31st August 2023.

“Where relevant CIT 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 Service also stated that the extension of the filing date is only for Companies Income Tax and does not include returns for withholding tax, value-added tax, personal income tax (PAYE), among others.

“The Service invites all relevant taxpayers to take the opportunity afforded by this extension to submit their CIT returns within the specified time, pay the taxes due and avoid payment of penalty and interest,” the notice read

 

GLAMTUSH

Recent Posts

Court Dismisses Case Against #EndBadGovernance Protesters

The court has dismissed the case against #EndBadGovernance protesters.   Glamtush reports that a Federal…

2 mins ago

FG Terminates ₦740bn Abuja-Kaduna Road Contract With Julius Berger Over Non-Performance

FG has terminated the ₦740bn Abuja-Kaduna road contract with Julius Berger over non-performance.   Glamtush reports…

22 mins ago

Ekiti Chief Judge, Adeyeye, Dies At 64

Ekiti Chief Judge, Adeyeye, has died at 64.   Glamtush reports that Justice Oyewole Adeyeye,…

1 hour ago

Access Bank Wins Best Digital, Best Website At 2024 Digital Jurist Awards

Access Bank PLC has been named the 2024 Best Digital Award winner in the Commercial…

2 hours ago

Top Summary From Nigerian Newspapers For Tuesday, November 5th, 2024

The top summary from Nigerian newspapers for Tuesday, November 5th, 2024, can be accessed on…

2 hours ago

Ekiti Governor Honours Primate Ayodele’s Late Father, Names Street After Him

The governor of Ekiti state, Biodun Oyebanji has honoured Primate Elijah Ayodele’s late father by…

14 hours ago