The Federal Inland Revenue Service (FIRS) has announced an extension of the deadline for its waiver of penalty and interest window on tax debts owed by individuals and businesses.

The agency has previously announced extensions in the past with the latest one expiring on June 30, 2020, as part of measures to combat the economic effects of the coronavirus pandemic.

FIRS chairman, Muhammad Nami, said in a statement on Wednesday, July 8 that the window has been further extended till August 31.

The latest extension applies to tax audit, tax investigation and desk review assessments, and approved installment payment plans under Voluntary Assets and Income Declaration Scheme (VAIDS) yet to be fully liquidated.

Nami said the extension is a follow up to a number of palliative measures devised by the FIRS to cushion the effects of the COVID-19 pandemic on the Nigerian economy in order to support tax-paying individuals and business entities in the country.

"Taxpayers are advised to note that there will be no further extension of this palliative measure.

"Tax debtors are therefore enjoined to liquidate their outstanding tax liabilities on or before 31st August, 2020 in order to enjoy waiver of accumulated penalties and interests," he said.

He urged concerned taxpayers to contact their respective tax controller or FIRS regional debt management offices for further enquiries.