FCT-IRS alerts residents on need to file tax returns before March ending

The Federal Capital Territory-Internal Revenue Service (FCT-IRS) has reminded all individuals living in the FCT to file their tax returns before the 31st of March 2024.
Head, Corporate Communications, of the Service, Mustapha Sumaila in a state made available to the National Update indicated that the obligation is in line with the Personal Income Tax Cap P8 2011 as amended.

Explaning further, he said, “It is also stipulated in Section 41 of the aforementioned act, that all taxable entities must timely submit a return reflecting their total income from all sources for the preceding fiscal year to the relevant tax authority within 90 days of the commencement of each assessment year.

“It is crucial to note that the deadline for filing tax returns will not be extended beyond the stipulated date and whoever fails to comply will face the consequences in accordance with the relevant laws for non-compliance.

“We urge all taxpayers to comply before the deadline and fulfill their tax obligations as prescribed by law.” He reiterated the commitment of the service to ensuring tax compliance and maintaining a fair and efficient tax system.