By Victor Ernest
Federal Inland Revenue Service (FIRS) has promised to support domestic airlines on laws that will enable them meet up with the payment of the Value Added Tax (VAT).
Chairman of FIRS Babatunde Fowler made this promise in a meeting with a delegation from AON and the International Air Transport Association (IATA) in Abuja.
According to a statement issued on Sunday by the Assistant Secretary of the Airline Operators of Nigeria (AON), Ewos Iroro, the support is to ensure the airlines survive while they strive to pay their taxes.
Iroro quoted Fowler as saying: ”the Federal Government recognised the challenges being faced by domestic airlines and was willing to meet them halfway with regards to tax laws.”
The FIRS boss proposed that airlines should be given concession of two months after the billing period (M+2) to make their VAT remittances.
He said the move gave room for reconciliation and for airlines to recoup their credit sales.