FIRS Extends Deadline For Filing 2023 Companies’ Returns Till August 30
By Patience Ikpeme
The Federal Inland Revenue Service (FIRS) has granted a two-month extension for filing 2023 Companies Income Tax returns. This allows companies that missed the original deadline more time to submit their returns.
Initially, the deadline for the 2023 year of assessment (YOA) was set for June 30, 2023. However, defaulting companies now have until August 31, 2023 to file their returns.
In a Public Notice signed by FIRS Executive Chairman, Muhammad Nami, the service acknowledged receiving numerous requests from companies for an extension due to difficulties in meeting the June 30 deadline. Some companies reported issues with network connectivity and delays in accessing the FIRS portal.
As a gesture of goodwill and in accordance with the Companies Income Tax Act, the FIRS has granted an extension to all companies whose CIT returns for the 2023 YOA were due between June 30 and August 31, 2023. These companies now have until August 31, 2023 to submit their returns without incurring late filing penalties or interest, provided payments are made by the extended deadline.
However, if companies fail to file by the extended date, penalties and interest for late payment will be calculated from the original due date.
It’s important to note that the extension only applies to Companies’ Income Tax and does not include returns for withholding tax, value-added tax, or personal income tax (PAYE), among others.
The FIRS encourages all relevant taxpayers to take advantage of this extension, submit their CIT returns within the specified time, pay the taxes owed, and avoid penalties and interest.
