Introduction The Federal Inland Revenue Service ("FIRS") on December 1, 2020, issued a public notice titled " Public Notice on the Recovery of Outstanding Taxes from Taxpayers" (the "Notice"). In the Notice, the FIRS disclosed that all waivers of penalties and interest on outstanding taxes from desk examinations, audit exercises, investigations or all other forms of tax assessment will be concluded on December 31, 2020. Waiver of Interests and Penalties for Outstanding Tax Debts The series of waivers of penalties and interest due on outstanding taxes constituted part of the palliative measures introduced by the FIRS to cushion the economic and financial losses suffered by corporate taxpayers as a result of the Covid-19