Tag tax returns

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…

How to perform payroll tax reconciliation

What is payroll tax reconciliation?  A payroll tax reconciliation checks whether the PAYE tax calculated corresponds with the actual amount payable. A regular reconciliation lowers payroll tax exposure. An employer can carry out a reconciliation exercise quarterly, bi-annually, or annually.…

FIRS launches Automated Tax Administrative Solution

The Federal Inland Revenue Service (FIRS) has released a public notice on the deployment of its Automated Tax Administration Solution. The automation exercise will start on 1 May 2021. FIRS will connect its Automated Tax Administration Solution to tax records,…

LIRS extends deadline for 2021 Form A returns

To lower the impact of COVID-19 on taxpayers, the Lagos State Internal Revenue Service (LIRS) has extended the time for filing the annual individual tax returns (Form A) by 14 days. The new deadline for filing Form A is 14…

FIRS extends filing of 2020 tax returns, others by one week

The Federal Inland Revenue Service (FIRS) has added another waiver to taxpayers in Nigeria. Companies with accounting year-end of December 2019 have an additional time of one-week from July 31st to file their 2020 income tax returns. The new deadline…

FIRS introduces new Large Tax Office Non-Oil in Apapa

For amounts payable to the Federal Inland Revenue Service (FIRS), the relevant tax office of a taxpayer depends on four (4) factors. They are the nature of the industry, location, residency status, and turnover of the business. FIRS may assign…