Nigeria: FIRS grants tax amnesty to defaulting companies which pay outstanding taxes
On October 5, 2016, the Nigerian Federal Inland Revenue Service (“FIRS”) issued a public notice granting a three year tax amnesty to defaulting companies (the “tax amnesty program”). The goal of the tax amnesty program is to promote voluntary tax compliance and shield taxpayers from the burden of carrying forward old tax liabilities arising from penalty and interest. Prior to the notice, there had been increased discussions on the value of granting tax amnesty to increase tax
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