The Federal Capital Territory Internal Revenue Service (FCT-IRS) has called on all residents of the FCT to file their Annual Income Returns before the March 31st, 2025 deadline.
Head Corporate Communications of the service, Mustapha Sumaila in a statement emphasized that filing annual income returns is mandatory for all taxpayers, including employees in both public and private sectors, Public office holders (elected and appointed) and Self-employed individuals, including business owners and partnerships operating in the FCT
According to the statement, the filing obligation applies to income earned in 2024, and returns must be submitted in accordance with the law.
The statement explained further that Personal Income Tax Act stipulates that every taxable person must file a return of income for each assessment year without waiting for official notice.
The return must Provide a true and accurate statement of income from all sources adding that it must include all relevant allowances, reliefs, and deductions applicable to the taxpayer
It also indicated that it must be
filed within 90 days from the start of the new assessment year, making March 31st, 2025 the deadline
Additionally, the law requires that the return contain a declaration affirming the accuracy of the information provided, as mandated by the Personal Income Tax Act.
The FCT-IRS also warned that failure to file by March 31st, 2025, will lead to a Best of Judgment (BOJ) assessment being issued against defaulters, Enforcement of financial penalties under Section 54(3) of the Personal Income Tax Act and
Possible criminal and civil sanctions as prescribed by law
The Acting Executive Chairman, Mr. Michael Ango, has continued to actively advocate for voluntary tax compliance, urging residents to fulfill their tax obligations to avoid penalties.
According to him, compliance is in the best interest of taxpayers and contributes directly to improving infrastructure and social services in the FCT, under the leadership of the Minister of the FCT, His Excellency Ezenwo Nyesom Wike, CON.
The FCT-IRS encourages all residents to fulfill their obligations by filing their returns on time and contributing to the continued development of the territory.