FIRS extends deadline for 2022 companies income tax return

Companies whose income tax returns fall due between 30th June 2022 and 31st August 2022 can submit their returns on 31st August 2022. The Federal Inland Revenue Service (FIRS) has extended the deadline for filing the companies’ income tax returns for the 2022 year of assessment (YOA). Please note the following;

  1. The additional time to file applies to only 2022 YOA CIT returns. It does not cover other returns such as withholding tax, value added tax, and personal income tax.
  2. FIRS will not add late filing interest or penalty if submitted to the Service on or before 31st August 2022.
  3. Where a taxpayer submits the return after the revised due date, FIRS will calculate late payment fees from the actual due date and not the extended date.

Taxpayers can use the filing extension to submit their CIT returns and pay the taxes due to prevent payment of penalties and interest. To download the public notice, click here.