Taxpayers in Nigeria have an additional time of one month to file the company income tax (CIT) returns for the 2021 year of assessment (YOA). The new due date is 31 July 2021. Federal Inland Revenue Service (FIRS) will suspend penalties and interest for late filing of returns during the period. Companies can also upload their withholding tax (WHT) credit notes to the online portal, TaxPro Max. There is a new feature that enables a taxpayer to pay tax in advance pending an assessment.
FIRS granted the additional time to ease the transition from manual filing to an e-filing system. Taxpayers must file returns using the TaxProMax platform. FIRS has a dedicated support team to assist taxpayers with the e-filing of returns. Companies and other stakeholders can use the extra time to submit their CIT returns and reconcile the WHT position.
To download the memo on extension of online filing of CIT returns for 2021 YOA , click here.