The Federal Inland Revenue Service (FIRS) has issued a notice regarding the administration of penalty and interest rates regime under the Companies Income Tax Act. According to the FIRS the aim of the public notice is to clarify and provide certainty on the applicable interest rate for late or non-payment of taxes. However, the notice may lack legal backing as it appears to amend clear provisions of the relevant laws.

Read our tax alert below for details.

Download PwC Tax Alert_FIRS Notice on Interest Rates

Download FIRS Public Notice on Interest Rate

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