Home Business 2025 Tax Returns: “File Tax Returns By March 31 Deadline or Risk...

2025 Tax Returns: “File Tax Returns By March 31 Deadline or Risk Punishment By Law”- FCT-IRS

10
0
tax return
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged all taxable residents within the Federal Capital Territory to file their personal income tax returns on or before March 31, 2026.

The order is applicable to people who work for pay, hold elected or appointed public office, work for themselves, and own businesses in the Federal Capital Territory.

Every taxable individual in the territory must report income received from all sources for the 2025 tax year, according to a statement issued on Monday by Mustapha Sumaila, Head of Corporate Communications.

Join our WhatsApp Community

Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service, Michael Ango

Details of deductions and any other pertinent information required by law are included in this.

Employees covered by the Pay As You Earn program, professionals, business owners, independent contractors, and workers in the unorganised sector are all subject to the filing requirement.

Section 24(f) of the 1999 Constitution, Sections 13 and 14(3) of the Nigeria Tax Administration Act 2025, Section 24 of the FCT-IRS Act 2015, and Paragraph 11 of the Joint Revenue Board’s 2026 Personal Income Tax Guidelines are all in compliance with the instruction, according to the statement.

“The above law and guidelines require every individual with taxable income [must] submit a true and correct return of total income from all sources for the preceding year (January 1st to December 31st, 2025) within 90 days of commencement of the 2026 assessment year.”

Taxpayers are strongly advised to complete their filings online through the FCT-IRS self-service portal at www.taxporta.fctirs.gov.ng or visit any FCT-IRS office to obtain and submit the necessary forms.

Penalties for missing the March 31 deadline could include “issuing a best of judgement assessment on defaulters, imposing penalties and interest and other civil and criminal sanctions in line with the provisions of the law,” the agency warned.

Join our WhatsApp Community

tax reforms

Speaking at the recently concluded FCT-IRS Stakeholders’ Engagement Forum, Acting Executive Chairman, Michael Ango, emphasised the need for voluntary compliance.

According to him, timely registration, filing, and payment are still crucial to the FCT’s growth and development since they allow the government to provide social services, infrastructure, security, and other public goods.

Join Our Social Media Channels:

WhatsApp: NaijaEyes

Facebook: NaijaEyes

Twitter: NaijaEyes

Instagram: NaijaEyes

TikTok: NaijaEyes

READ THE LATEST BUSINESS NEWS