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ARTICLE · 24 JUNE 2021

FIRS Issues Guidelines On The Validation Of Unutilized Withholding Tax Credit Notes

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Where the income relating to the WHT credit notes has not been reported, the FIRS will issue additional assessment before validation of the credit note.

NigeriaTax
Wole Obayomi
Wole Obayomi

The Federal Inland Revenue Service (FIRS) recently issued an Information Circular No.: 2021/07 ("the Circular") providing guidelines on the validation of unutilized withholding tax (WHT) credit notes, in line with its mandate to achieve full automation of WHT administration. The Circular was issued pursuant to the provisions of Section 25(4) of the FIRS Establishment Act (FIRSEA), 2007 (as amended).

According to the Circular, taxpayers with unutilized WHT credit notes for periods up to 31 May 2020 are required to submit such credit notes to their respective tax offices between 1 April 2021 and 30 June 2021 for validation and upload to the FIRS online filing portal - TaxPro-Max portal.

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