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The Federal Inland Revenue Service (FIRS) has urged all international shipping companies operating in the Nigerian territorial waters to regularise their tax positions immediately.
A public notice signed by the Executive Chairman, FIRS, Muhammad Nami, and published on the agency verified X platform page on Monday said the agency observed that many international shipping lines have not complied with the tax obligations imposed by extant tax laws.
The agency said all affected international shipping lines must conclude the regularisation of their outstanding tax returns no later than 31 December.
The agency noted that the notice continues the two previous circulars published in 2021 on taxation of international shipping airlines and tax compliance.
“This notice is published further to the FIRS Circular No.2021/14 dated 3rd June 2021 on the “taxation of international shipping and airlines” and public notice of 17th December 2021 on the “tax compliance of international shipping lines,” FIRS said.
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It explained that the circular provides the basis of taxation for all international shipping lines in Nigeria, and the public notice requested all international shipping lines to regularise their tax affairs with the FIRS within three months of that publication date.
“Consequently, the Service hereby requests all international shipping companies operating in Nigerian territorial waters in whatever capacity (containerised, bulk cargo, fishing trawlers, crude oil and natural gas lifting vessels, dredging, survey, floating, production, storage, and offloading, etc) to regularise their tax positions immediately.
“All affected international shipping lines must conclude the regularisation of their outstanding tax returns at the Non-Resident Persons Tax Office (17B Awolowo Road, Ikoyi, Lagos) not later than 31st December 2023,” it said.
The agency added that it is collaborating with relevant security agencies to commence enforcement action on all defaulting shipping companies after the expiration of the grace period.
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