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Home Business News Business

Tax: FCT-IRS extends annual returns filing for corporate organisations to March 31

Says challenges faced by taxpayers were caused by unexpected downtime on its server

William Ukpe by William Ukpe
February 14, 2022
in Business
Tax: FCT-IRS extends annual returns filing for corporate organisations to March 31
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The Federal Capital Territory Internal Revenue Service (FCT-IRS), the tax body responsible for tax generation in Nigeria’s Federal Capital Territory has announced that it has extended the annual tax returns filing for organisations or agents to the 31st of March.

This was disclosed in a statement issued by its Head of Corporate Communications, Mustapha Sumaila on Sunday.

The agency said challenges faced by taxpayers so far were caused by unexpected downtime on its server, which resulted in the past deadline of January 31 being extended for organisations.

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What the FCT-IRS is saying

Highlighting issues with its servers affecting taxpayers, it said, “the management, however, apologises to its esteemed taxpayers for the difficulty and challenges experienced in the process of payment and other services via the online channels in the past few days due to an unexpected downtime on its server.”

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It added it also regrets the inconveniences that this might have caused esteemed taxpayers, and is thereby committed towards improving service delivery for taxpayers in Nigeria’s federal capital. It however, added that its server downtime issues have been fixed and annual return payments could proceed.

Read: The 10% sugar tax may actually be a good thing

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What you should know

  • Nairametrics reported last month that the (FCT-IRS) called on individuals to file their tax returns by March 31, while corporate organisations should do so by January 31st in its bid to meet up with the N200 billion revenue target for the year.
  • In a report last year, Nairametrics revealed that the FCT‘s IGR per population increased by 78.8% and 48.7% compared to N6,809 and N8,187 recorded in H1 2020 and H1 2019 respectively.
  • The FCT also maintained second on the list of states in Nigeria with the highest internally generated revenue per population in the first half of 2021, with N60.07 billion in H1 2021, representing a 96.2% increase compared to N35.21 billion recorded in the corresponding period of last year.

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