FIRS Extends Deadline for Financial Institutions to Submit Reports
The Federal Inland Revenue Service has extended the deadline for the submission of 2019 financial accounts reports under the Common Reporting Standard to September 30, 2020.
He said the service had been inundated with requests for an extension of the time of filing reports by the institutions. The service had earlier outlined measures to support taxpayers in managing their tax obligations during the current challenging times occasioned by the effects of COVID-19. He had previously directed businesses to commence payment of their annual returns earlier than the due date, apart from their normal monthly obligations.
The regulations require a financial institution in respect of the 2019 calendar year and every subsequent calendar year, to file an “Information Return” with the FIRS.
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