Nigeria’s Federal Inland Revenue Service (FIRS), in a notice to taxpayers and the general public, announced the transitioning of the electronic platform for filing transfer pricing returns and country-by-country (CbC) reporting notifications from E-TPPLAT to TaxPro-Max (TPM).
Taxpayers must now submit their transfer pricing returns and CbC reporting notifications via the Taxpayers’ Portal on the TPM platform using the existing login details as regular tax filings with the FIRS.
Administrative penalties imposed by the FIRS, or as per the 2018 Income Tax (Transfer Pricing) Regulations and Income Tax (Country-by-Country) Regulations, will be waived for compliant taxpayers. Penalties will be imposed for non-compliance. Additionally, taxpayers can re-file their previous returns from E-TPPLAT on the TPM platform.
Taxpayers have until 30 June 2024 to complete all outstanding filing requirements related to transfer pricing returns and CbC reporting notifications on TPM.
