FIRS Extends Income Tax Deadline to End of July
The FIRS has noted the very good progress recorded in the implementation of the TaxProMax Solution which was introduced for ease of tax compliance and to delight taxpayers while fulfilling their statutory obligations. The Service wishes to thank taxpayers and the general public for the warm reception accorded the Solution and the very encouraging feedback.
The implementation challenges reported have been promptly resolved by the implementation Team. A Situation Room for resolving issues on a “real-time” basis is up and running. All of these measures will further improve taxpayers’ experience while using the Solution. The TaxProMax has been upgraded as follows:
- Payment on Accounts: The upgrade enables taxpayers to make payments on account i.e., pay tax on an account pending an assessment. The system will apply such advance tax payment to a future assessment.
- Validity of Payment Reference Number (PRN) formerly Document Identification Number (DIN): The PRN will remain valid until midnight of the due date of filing of the relevant tax return.
- Branch Payment: Companies can effect VAT & Withholding Tax (WHT) payments using the “Branch TIN”. Note that the use of Branch TIN is only for VAT & WHT; the main CIT returns must be filed using the company TIN for the Tax Office hosting the main tax file.
The Service understood that, due to the initial learning experience, some taxpayers encountered challenges in completing the returns-filing process and uploading WHT credit notes. As such,
- all companies whose income tax returns for 2021 YOA fall due on 30th June 2021 are granted a (one-off) one-month extension (with Late Filing Penalty (LRP) and interest for late payment suspended) until 31st July 2021; provided the filing process is concluded on TaxProMax and tax due is paid using the PRN not later than 31st July 2021, and
- the period for uploading WHT credit notes unto the TaxProMax is extended by one month to 31st July 2021.