KPMG Nigeria on LinkedIn: The Federal Inland Revenue Service (FIRS) recently made a publication… (2024)

KPMG Nigeria

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The Federal Inland Revenue Service (FIRS) recently made a publication titled “Public Notice on the Administration of Penalty and Interest Rates Regime under the Companies Income Tax Act, Cap C21, LFN, 2004 (CITA).” The publication was issued to provide clarity and certainty on the applicable penalty and interest on unpaid taxes. It highlights the need for uniformity in the interest rates charged on tax debts across the country.

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