Lagos State Internal Revenue Service (LIRS) has reiterated that all companies within the state must submit their annual tax returns by January 31, 2024 or will face penalty.
Gatekeepers News reports that Head, Corporate communications of LIRS, Monsurat Amasa-Oyelude announced this in a statement on Sunday.
LIRS Executive Chairman, Ayodele Subair, said all employers of labour operating in Lagos state must adhere to the deadline.
Subair said failure to comply will result in penalties and other legal sanctions outlined in section 81(3) of the Personal Income Tax (amendment) Act 2011, which stipulates January 31 as the deadline for filing of annual tax returns.
He said the exclusive platform for filing annual income tax returns in Lagos state is the LIRS e-tax portal, as manual filing is no longer permissible.
The FIRS chairman urged businesses and employers to leverage the e-tax portal for filing, pointing out that it is easy to use, convenient, and safe.
Subair said, “The e-Tax portal is designed for the convenience of taxpayers, making tax transactions easily accessible from the comfort of homes and offices.”
He added that for any employer to file their annual income tax returns on the e-tax portal, they must have a taxpayer identification (ID).
Subair told employers to generate a taxpayer ID — where applicable — for their employees and to file their pay-as-you-earn (PAYE) returns through the e-tax portal.
