The Lagos State Internal Revenue Service has said all businesses and employers of labour residents within Lagos State must file their annual income tax returns on or before January 31, 2023.
The LIRS Executive Chairman, Mr Ayodele Subair, made this known in a statement signed by the Head, Corporate Communications of LIRS, Monsurat Amasa, on Sunday.
He said failure to comply with the directive would attract penalties as well as other statutory sanctions as stipulated in section 81 (2) of the Personal Income Tax Act Cap P8 LFN 2004 (as amended).
He explained that the Act stipulates January 31 as the deadline for filing of annual income tax returns, failing which a penalty accrues.
Subair said, “For filing the annual income tax returns in Lagos State, the only available platform is the LIRS e-Tax portal. The e-Tax portal is built for the convenience of taxpayers and is easy, convenient, and safe. All businesses and employers of labour are advised to use the e-Tax portal to file their returns.
“With the eTax system, corporate bodies are expected to find it more convenient to carry out tax transactions in the comfort of their homes and offices,” he noted.
He said taxpayer ID of all employees was compulsory for the annual income tax returns to be successfully filed 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 said.