As from January 2021, the Federal Inland Revenue Service (FIRS) will go after tax defaulters to recover outstanding taxes.
However, before embarking on the tax recovery drive, the FIRS says it will leave the window of opportunity open for tax defaulters to make good on their obligations.
“Waivers of penalties and interest” on outstanding taxes the FIRS said will be in effect till December 31, 2020. Thereafter the window will close.
Outstanding taxes that will incur penalties and interests will be those “arising from desk examinations, audit exercises, investigations or all other forms of tax assessment”.