CityNews Nigeria reports that the Federal Inland Revenue Service (FIRS) has mandated all shipping companies operating in Nigeria’s territorial waters to regularize their outstanding tax return before 31st December 2023.
This Nigeria News platform understands that the service disclosed this in a public statement made available to the public and signed by its Executive Chairman, Muhammad Nami.
FIRS noted the order is the sequel to two previous seculars of June and December 2021 wherein it provided the basis of taxation of international shipping lines and also called on them to regularize their tax affairs with the service within three months.
The circular also stated that the FIRS had observed that many international shipping lines operating in the country had not been complying with the nation’s extant tax laws.
It said thus,
The service noted that it is collaborating with relevant security agencies to prosecute defaulting shipping agencies after December 2023.
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