FIRS extends AEOI-CRS reporting dateline for financial institutions

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

COVID – 19: Further Palliative Measures No 4:
Extension of AEOI-CRS Reporting Dateline for Financial Institutions

The Federal Inland Revenue Service (FIRS) had earlier outlined a number of measures put in place to support taxpayers in managing their tax obligations during this very challenging time.

Recently, the Service had been inundated with requests for an extension of the time for filing reports by Financial Institutions under the Automatic Exchange of Information Common Reporting Standard (AEOI-CRS) Regulations. The report is due by 31st May 2020.

In recognition of the fact that Financial Institutions are faced with challenges that may result in delays in reporting relevant financial account information, the FIRS hereby extends the deadline for submission of 2019 financial accounts reports under the CRS to 30th September 2020.

The Service is committed to providing, as a priority, support to all Taxpayers to ease their tax compliance obligations at all times and particularly during the pendency of the Covid-19 restrictions.

All Financial Institutions are encouraged to take advantage of this extension to prepare and finalise relevant information as required under the Income Tax (Common Reporting Standard) Regulations 2019 and its related Guidelines for reporting by 30th September 2020.

For further information please contact

Muhammad Nami
Executive Chairman

Football news:

Ocampos did everything for the victory of Sevilla: first he scored, and then he put on a goalie's Jersey and in the 101st minute dragged the kick of the goalkeeper Eibar
Pizarro finished his career as a player. Werder's players cradled him in their arms after the match
Aitor Karanka: When Real Madrid wins, they always talk about the referees
Gendusa two weeks training with Arsenal according to the decision of Arteta. Londoners can sell it
Alexander Elagin: if you Want to live a man with a man, a woman with a woman-live! But don't involve children
Pizarro finished. He came to Werder 4 times and became a legend here
Lloris about the fight with Son: It's part of football. Sometimes this happens