Pay Your Tax Now, FIRS Appeals To Telecos, Others

By Ayodele Oluwafemi

The Federal Inland Revenue Service, FIRS has appealed to businesses making a boon out of the Coronavirus lockdown to turn in their annual returns before the due date.

According to the agency, this move will enable the Federal Government cushion the effects of the economic downturn occasioned by the COVID-19 pandemic.

The pandemic has affected government revenues, especially with the drastic reduction in oil prices.

FIRS boss, Muhammad Nami, noted that revenue generating agencies are under pressure to bridge budget funding gaps, occasioned by the economic downturn caused by the global pandemic.

Nami asserted that sectors in telecommunication, financial institutions, e-Commerce, supermarkets, manufacturers/ processors of certain products are experiencing a boom during this period, hence the need to pay annual returns earlier than the due date.

• APPEAL DIRECTED TO
• Telecommunication Companies
• Financial Companies
• e-Commerce companies

Making the appeal, he said, “I wish to appeal to a section of taxpayers. whose sectors are experiencing a boom and a significant increase in income at this point in time. for a high level of cooperation in payment of their taxes.

“Nonetheless, we wish to acknowledge that some sectors such as telcos, financial institutions, e-Commerce, supermarkets, manufacturers/ processors of certain products, etc are experiencing a boom due to increased transactions as a result of the lockdown or even despite the pandemic.”

“In view of the above, I wish to specially make an appeal to corporate bodies in the sectors mentioned above to go the extra mile at this time to cooperate with us in making special arrangements to pay their taxes.

“They may consider, for instance, a situation where they can commence payment of their annual returns earlier than the due date apart from their normal monthly obligations.”

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