FIRS extends window for waiver of penalty and interest for members of NASME

Federal Government releases 2016 Fiscal Policy Measures

Federal Inland Revenue Service (FIRS) on Friday, 25 November 2016, issued a public notice formalizing its extension of the tax amnesty window exclusively for members of the National Association of Small and Medium Enterprises (NASME). The new deadline date for members of NASME is 31 December 2016 and all applications for grant of waiver are to be submitted to FIRS, through the association.

The extension is a fall out of the recently concluded Private-Public Sector Dialogue (PPD) organized by NASME in collaboration with Akintola Williams Deloitte and Enhancing Nigerian Advocacy for a Better Business Environment (ENABLE).

The PPD, which took place on 22 November 2016, created an atmosphere for a genuine dialogue between representatives of NASME, the Chairman of FIRS, and other stakeholders on various considerations to promote the growth of Micro, Small and Medium Enterprises vis-à-vis tax revenue generation in Nigeria.

We will continue to monitor developments in this space and update you as further facts become available.

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