Lagos units Jan 31 deadline for submitting tax returns

The Lagos State Inside Income Service has reminded employers to file their annual tax returns for the 2024 monetary 12 months by January 31, 2025, in compliance with the Private Earnings Tax Act, Cap P8 LFN 2004 (as amended).

In an announcement on Sunday, LIRS Government Chairman, Dr Ayodele Subair, emphasised that assembly this authorized obligation is important.

He warned that failure to conform might appeal to statutory sanctions, together with penalties.

Part 81 of the Act mandates employers to submit detailed annual returns of all worker emoluments, together with taxes deducted and remitted to related tax authorities. These returns should be filed no later than January 31 yearly, overlaying the earlier 12 months’s revenue and taxes.

Subair urged employers to prioritise submitting to keep away from penalties, stating: “Submitting returns on or earlier than the deadline ensures compliance with the regulation and helps correct income monitoring, which is crucial for Lagos State’s fiscal planning and sustainability.”

To simplify the method, LIRS now requires employers to file completely via its e-Tax portal (https://etax.lirs.web), as guide submissions are not accepted. Subair described the platform as safe and user-friendly, designed to ease employers’ compliance efforts.

He added, “Employers are reminded to incorporate the Payer ID of all staff of their returns. Workers and not using a Taxpayer ID ought to promptly generate one on the e-Tax platform to keep away from disruptions.”

To help compliance, LIRS employees can be found at its places of work to information employers on utilizing the e-Tax portal and deal with any issues.

Subair inspired immediate motion to satisfy the deadline and fulfill tax obligations.

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