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FIRS extends the deadline on penalty and interest waiver

The Federal Inland Revenue Services (FIRS) on Tuesday June 2, 2020, issued a public notice extending the deadline for waiver of penalty and interest arising from tax assessments to 30th June 2020.

The notice also extended the scope of assessments to cover approved payment plans under the Voluntary Assets and Income Declaration Scheme (VAIDS), in addition to liability on Desk review exercise, tax audit and Tax Investigation.

Taxpayers who wish to take advantage of this palliative have up to June 30, 2020 to settle the principal liability for waiver of the accumulated penalty and interest.