The Federal Inland Revenue Service (FIRS) has recently warned that late returns on Company Income Tax (CIT) returns beyond 30 November 2021 for the 2021 tax year would attract penalty and interest. The chairman, Muhammad Nami, said the grace period extended for companies to migrate to the new platform for filing returns on CITA for 2021 Year of Assessment expires on 30 November 2021.
The service had suspended the imposition of penalty and interest on late CIT returns for 2021 year of assessment, in order to support the seamless migration to the use of the TaxPro-Max platform with effect from June 2021. TaxPro-Max enables seamless registration, filing, payment of taxes and automatic credit of withholding tax as well as other credits to the Taxpayer’s accounts among other features. TaxPro-Max also provides a single-view to taxpayers for all transactions with the Service.
