The Federal Inland Revenue Service (FIRS), has approved amnesty on penalties and interests for outstanding tax liabilities.

The Chairman of FIRS, ZACCH ADEDEJI, said this in a statement in Abuja.

ADEDEJI said that the step was in recognition of the challenges that many taxpayers had faced in settling their tax obligations.

According to him, full payment of outstanding original tax liabilities without interest on or before December 31 must be done by companies wishing to benefit from the concession.