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LIRS sets Jan. 31 as deadline for employers to file annual tax returns



LIRS sets Jan. 31 as deadline for employers to file annual tax returns

The Lagos State Internal Revenue Service (LIRS) has reminded its valued taxpayers, businesses, and employers of labour that they are required by law to file annual income tax reports under section 81 (2) of the Personal Income Tax Act (PITA) Cap P8 LFN 2004. (as amended).

The Act stipulates January 31 as the deadline for filing yearly income tax returns, after which a penalty is imposed if the reports are not filed on time.

Executive Chairman of the Lagos State Internal Revenue Service, Ayodele Subair, has urged all businesses and employers in Lagos State to file their annual income tax returns by January 31, 2022, or face penalties and other statutory consequences.

For yearly income tax returns to be correctly filed on the e-Tax system, all employees must have a taxpayer ID. As a result, all employees and taxable persons in the state are encouraged to create a taxpayer ID (where appropriate) and use the e-Tax portal to file their individual annual income tax reports.” He stated The agency has dedicated some staff at various offices to assist taxpayers with the use of the e-Tax portal and other filing-related concerns, in keeping with the government’s goal of making compliance duties easier for taxpayers.

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