See what will happen if you fail to Remit your Vat tax within 21 Days

I have been paying my value added tax for over 3 years and I have always been consistent with my payment however the management of firs have always insisted any defaulting tax payer that fail to remit within the 21 days will pay a fine.

As I become desperate, I decided to have further question on the cost of the fine for failure to remit on the stimulated date.

Presently the cost stood at 5000 for anyone that fail to remit and the money will be transfer to the federal government account.

It is always better to pay as at when due to avoid paying fine.

Furthermore this fine cover those who made sales and those who fail to remit because of no sales..

So, you need yo file your form even if you didn’t make any sales.

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