The Lagos State Internal Revenue Service (LIRS) has announced that January 31, 2023, is the deadline for employers to file their annual tax returns. This information was conveyed by the LIRS Executive Chairman, Mr. Ayodele Subair, in a statement signed by the Head of Corporate Communications, Monsurat Amasa, on Sunday. Mr. Subair emphasized that all businesses and employers operating within Lagos State are required to submit their annual income tax returns by this date.
Failure to comply with this directive will result in penalties and other statutory sanctions as outlined in Section 81 (2) of the Personal Income Tax Act Cap P8 LFN 2004 (as amended). The Act clearly states that January 31 is the deadline for filing annual income tax returns, and any delay will incur a penalty. Subair stated, “For filing the annual income tax returns in Lagos State, the only available platform is the LIRS e-Tax portal.” He highlighted that the e-Tax portal is designed for the convenience of taxpayers, offering a user-friendly, safe, and efficient way to file returns.
He further noted that the e-Tax system allows corporate bodies to conduct tax transactions from the comfort of their homes and offices. Additionally, it is essential for all employees to have a taxpayer ID to successfully file their annual income tax returns on the e-Tax portal. “All employees and taxable persons within the state are advised to generate a taxpayer ID and file their individual annual income tax returns on the e-Tax portal,” he added.
Comments are closed for this story.