…The exercise shall cover 2019 to 2022 accounting years for taxable persons whose records have been audited by the Service up to 2018 accounting year
…The Executive Chairman today, began his familiarization tour of field offices of the FIRS
MON, OCT 16 2023-theGBJournal| The Federal Inland Revenue Service (FIRS) has set October 23, 2023 as date to commence a nationwide investigation into Value Added Tax (VAT) and With Holding Tax (WHT) compliance of all taxable Nigerian or tax agents.
Those targeted in the exercise as the Service intensifies its tax collection drive, include Non-Governmental Organisations (NGOs), Ministries, Departments and Agencies (MDAs) of governments at the Federal, State and Local Government levels.
”The exercise shall cover 2019 to 2022 accounting years for taxable persons whose records have been audited by the Service up to 2018 accounting year,” FIRS said in a statement signed its Executive Chairman, Dr Zacch Adedeji.
”However for taxpayers whose records have been audited by the Service up to 2018, the exercise shall to be extended to include the prior years that have not been tax audited.” the Chairman added.
Adedeji also ordered tax agents who have made deductions of VAT or WHT on behalf of the Service to immediately remit all such deductions to the FIRS within the next two weeks.
The Service said its team officers shall visit selected taxpayers, taxable persons to review their VAT and WHT records, and those to visited will be notified by the FIRS and the documents required for the exercise will be listed in the letter to the selected entities.
Meanwhile, the Executive Chairman today, began his familiarization tour of field offices of the FIRS.
His agenda, according to the FIRS, includes a meeting with the Lagos Island State Coordination team at the FIRS Ikoyi Office.
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