Federal Inland Revenue Service (FIRS) has offered a flexible tax payment method to domestic airlines to help them remain in operation and to meet up with their value added tax remittance obligations.
Chairman, FIRS, Babatunde Fowler, who made the proposal while receiving a delegation of the airline operators of Nigeria and the international air transport association said the revenue board will give the airlines two months grace period to remit their value added taxes and recoup their credit sales.
Fowler enjoined the airline operators to engage the Presidency and the Senate how the laws can be amended to address their challenges.
He said that the airline industry was challenged and that exemptions on tax issues were beyond the FIRS, but that the organisation would offer domestic airlines a soft landing.
According to him, the FIRS will give airlines a concession of two months after the billing period (M+2) to make their VAT remittances so that collections done now are swept during the upper month instead of the following month so as to give room for reconciliation and for the carriers to recoup their credit sales.