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FIRS grants waiver on outstanding interests, penalties imposed by TaxPro Max

FIRS grants waiver on outstanding interests, penalties imposed by TaxPro Max
December 01
15:19 2022

The Federal Inland Revenue Service (FIRS) says it has approved a one-off waiver of all outstanding interests and penalties imposed on established tax liabilities by the TaxPro Max until December 31, 2022.

The tax agency said this in a public notice released on Thursday and signed by Muhammad Nami, its executive chairman.

In June 2021, the FIRS introduced and deployed the TaxPro Max, a solution for filing tax returns and paying taxes.

FIRS said the TaxPro Max has enhanced the ease of paying taxes in Nigeria and reduced the cost of tax compliance for taxpayers.

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It also said the impact of the TaxPro Max has greatly contributed to the efficiency of tax collections and the record-breaking performance of the service in 2021.

FIRS explained that it granted the one-off waiver due to complaints from taxpayers who said additional interests and penalties were imposed on them while generating payment reference numbers (PRN) on liabilities.

“Pending the resolution of the concerns expressed by taxpayers, the service has approved a one-off waiver of all outstanding interests and penalties imposed by TaxPro Max on liabilities emanating from monitoring, desk review, tax audit and tax investigation exercises until 31st December 2022,” the notice reads in part.

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Nami advised taxpayers to take advantage of the waiver and pay all their outstanding tax liabilities.

He warned that failure to pay the outstanding tax liabilities on or before the deadline would leave the service with no other option than to apply the relevant provisions of the law in recovering all outstanding taxes due.

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