Nigeria’s Federal Inland Revenue Service (FIRS) has given a 30-day window period for payment of taxes. Wealthy Nigerian tax payers without Tax Identification Number (TIN), and firms or companies with over 100 million annual turn-over are all to adhere to this announcement.
Tunde Fowler, Executive Chairman of FIRS, made this announcement at a meeting held in Lagos with the Manufacturer’s Association of Nigeria.
He mentioned that about 59,000 companies charging for the Value Added Tax ( VAT) and withholding Tax (WHT) do not have TINs.
One of the issues he raised was the fact that some companies deduct monies from their employees meant for government and do not remit it to the government. He also noted that tax payment is not meant for just civil servants or salary earners but also for millionaires and billionaires who make income from the economy.
He stated that online solutions have been put in place to help taxpayers have a smooth payment experience.