FIRS to begin issuance of 2020 tax clearance certificate in January

The Federal Inland Revenue Service on Sunday said it would begin the issuance of 2020 Tax Clearance Certificate in January.

This was disclosed in a statement signed by FIRS Executive Chairman, Muhammad Nami.

According to Nami, a 30-day window would be opened in January to enable taxpayers obtain their TCC.

He said the window which begins effective January 2 to January 31 was created to make it easy for taxpayers to obtain the TCC.

He added that considering the fact that the TCC would be used by contractors and service providers to seek contracts, obtain loans, renew permits, registrations, franchises, and sign agreements, there was need to make it easier to obtain the TCC.

Nami noted that the offer to ease issuance of TCC is in line with the provisions of Section 101 (1) of Companies Income Tax Act 2004 and in conformity with Self-Assessment Regulation, 2011.

He said, “Notice is hereby given that the Service has put in place machinery to issue 2020 TCC for all eligible taxpayers from 2nd January to 31st January, 2020.”

“The issuance of TCC to ease the burden of taxpayers is in line with the provisions of Section 101 (1) of CITA LFN 2004 and in conformity with Self-Assessment Regulation, 2011.”

“Taxpayers are therefore encouraged to take advantage of this initiative and apply for their 2020 TCC, as soon as possible.”

He warned that the Service would not hesitate to use enforcement activities including imposition of lien on bank accounts of such defaulting companies to recover any outstanding debts when it discovers that the taxpayer has misled the Service in the area of tax compliance.

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