FCT-IRS urges residents to file annual returns before March 31st

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged all residents in the territory to file their Annual Income Returns before the deadline of March 31st, 2025. A statement on Wednesday by Mustapha Sumaila, head, Corporate Communications of the Service, reminded the residents that filing of annual returns of income from all sources is […]

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged all residents in the territory to file their Annual Income Returns before the deadline of March 31st, 2025.

A statement on Wednesday by Mustapha Sumaila, head, Corporate Communications of the Service, reminded the residents that filing of annual returns of income from all sources is mandatory for all taxpayers, including those in employment (private and public sector), public office holders (elected and appointed), those in self-employment including business owners and partnerships/enterprises resident in the FCT for the preceding year, 2024 and must be filed in the manner and within the time specified by law.

The statement noted that failure to file the returns by March 31st, 2025, will result in FCT-IRS issuing a best of judgment assessment on all defaulters, which they would be required to pay in line with the provisions of Section 54(3) of the Personal Income Tax Act, along with other criminal and civil sanctions as prescribed by the law.

It would be recalled that the Acting Executive Chairman, Mr Michael Ango, has been leading the campaign for voluntary tax compliance by all residents of the FCT.

According to him, it is in the interest of taxpayers to comply voluntarily, as any default would be treated seriously.