{"id":99677,"date":"2023-12-04T07:55:55","date_gmt":"2023-12-04T06:55:55","guid":{"rendered":"https:\/\/bodexng.com\/?p=99677"},"modified":"2023-12-04T07:55:58","modified_gmt":"2023-12-04T06:55:58","slug":"firs-waives-penalty-interest-on-tax-debts-till-december-31","status":"publish","type":"post","link":"https:\/\/bodexng.com\/2023\/12\/firs-waives-penalty-interest-on-tax-debts-till-december-31\/","title":{"rendered":"FIRS waives penalty, interest on tax debts till December 31"},"content":{"rendered":"
<\/div>\n

The Federal Inland Revenue Service (FIRS) has announced a full waiver on accumulated penalties and interests for outstanding tax liabilities until December 31, 2023.<\/p>\n\n\n\n

Zacch Adedeji, FIRS chairman, in a statement by Dare Adekanmbi, his special adviser on media, on Sunday, said the decision was to alleviate the burden on taxpayers and businesses and to promote compliance with tax laws.<\/p>\n\n\n\n

The chairman said penalties and interests are imposed for failure by companies to fulfil their tax obligation as and when due as stipulated in extant tax laws.<\/p>\n\n\n\n

\u201cForgiveness on piled up penalties and interests was in recognition of the challenges that many taxpayers have faced in settling their outstanding tax liabilities,\u201d Adedeji said.<\/p>\n\n\n\n

He said the full payment of outstanding original tax liabilities without interest must be made by companies wishing to benefit from the peculiar concession.<\/p>\n\n\n\n

\u201cTaxpayers are advised that the waiver of interest is subject to the full settlement of outstanding principal on or before 31 December 2023,\u201d Adedeji0 added.<\/p>\n\n\n\n

\u201cPlease note that the full penalty and interest shall be reinstated after the expiration of this one-off concession window where the outstanding undisputed liability remains fully or partially unpaid.\u201d<\/p>\n\n\n\n

Adedeji appreciated taxpayers who have consistently fulfilled their tax obligations, urging them to continue their support in building a more responsive and robust tax system.<\/p>\n\n\n\n

Last year, the agency approved a one-off waiver of all outstanding interests and penalties imposed on established tax liabilities by the TaxPro Max until December 31, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Inland Revenue Service (FIRS) has announced a full waiver on accumulated penalties and interests for outstanding tax liabilities until December 31, 2023. Zacch Adedeji, FIRS chairman, in a statement by Dare Adekanmbi, his special adviser on media, on Sunday, said the decision was to alleviate the burden on taxpayers and businesses and to […]<\/p>\n","protected":false},"author":886,"featured_media":76511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":[]},"categories":[427],"tags":[80],"jetpack_publicize_connections":[],"yoast_head":"\nFIRS waives penalty, interest on tax debts till December 31<\/title>\n<meta name=\"description\" content=\"The Federal Inland Revenue Service (FIRS) has announced a full waiver on accumulated penalties and interests for outstanding\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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