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Rev360 Crash: LCCI demands CIT deadline extension, penalty waiver
🇳🇬 Nigeria /Economy & Trade

Rev360 Crash: LCCI demands CIT deadline extension, penalty waiver

From Vanguard · () English

Summarized and contextualized by DistantNews.

At a glance

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  • The Lagos Chamber of Commerce and Industry (LCCI) is calling for an extension of the Company Income Tax (CIT) filing deadline.
  • LCCI cites widespread technical failures on the new Rev360 tax platform that prevented many companies from filing by the June 30 deadline.
  • The chamber urges the Nigeria Revenue Service (NRS) to extend the deadline by one month, waive penalties, and improve the platform's stability.

The Lagos Chamber of Commerce and Industry (LCCI) is urging the Nigeria Revenue Service (NRS) to extend the deadline for filing Company Income Tax (CIT) returns by one month. The call comes after widespread technical issues plagued the newly implemented Rev360 tax platform, leaving thousands of companies unable to meet the original June 30 deadline.

According to LCCI Director General Dr. Chinyere Almona, the Rev360 platform, launched just two months prior, experienced significant downtime on the deadline day. This resulted in login failures, validation errors, and unsuccessful submissions as businesses scrambled to comply. Almona emphasized that the platform's failure, not the taxpayers', prevented compliance, highlighting that deploying a new digital system shortly before a critical deadline is prone to operational challenges, especially under heavy user traffic.

The failure was that of the platform, not the taxpayers.

— Dr. Chinyere AlmonaDirector General of LCCI, attributing compliance issues to the Rev360 platform's technical failures.

The LCCI pointed out that the predictable surge in last-minute filings exposed the platform's inadequate capacity, effectively locking many businesses out of the system during a crucial period. To restore confidence in the tax administration process, the LCCI proposed three immediate actions for the NRS: extend the CIT filing deadline by one month, waive penalties for companies that attempted to file on or before June 30 but were hindered by system outages, and urgently enhance the Rev360 platform's stability and capacity before the next filing cycle.

Almona stated that a prompt announcement of the deadline extension and penalty waiver would alleviate the growing anxiety within the business community. This measure would also help prevent unnecessary disputes arising from technical failures that were beyond the control of taxpayers.

The LCCI DG said a prompt announcement of the deadline extension and penalty waiver would calm growing anxiety within the business community and prevent unnecessary disputes arising from a failure beyond taxpayers’ control.

— Dr. Chinyere AlmonaExplaining the expected benefits of the NRS granting the LCCI's requests.
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Originally published by Vanguard. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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