All shipping companies operating within Nigeria’s territorial waters have been given December 31st, 2023 deadline by the Federal Inland Revenue Service (FIRS) to settle any outstanding tax returns.
The deadline was contained in a public statement issued on Monday and signed by Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami. The order came after two previous statements issued by the FIRS in June and December 2021
The two earlier directives outlined the basis of taxation for international shipping lines and urged them to sort out their tax responsibilities within three months.
FIRS stated that if any shipping companies fail to comply with the deadline, the agency will work with relevant security agencies to prosecute defaulters.
The directive came amidst efforts by the Nigerian government to improve its tax revenue generation, as well as clamp down on companies who evade tax payments.
