Nigeria Provides Further Extension of Penalty Relief for Outstanding Tax Debts

Nigeria's Federal Inland Revenue Service (FIRS) has issued a release announcing a further extension of the penalty relief in response to COVID-19. The relief was provided in respect of tax arrears that arises as a result of a desk review, tax audit, or investigation, and included a waiver of interest and penalties as long as the outstanding tax debt was paid in full by 31 May 2020, which was subsequently extended to 30 June 2020. According to the latest release, the penalty relief is now ext…