LIRS restates March 31 deadline for filing tax returns

BY: ONOME AMUGE

The Lagos State Internal Revenue Service (LIRS), has reiterated that taxpayers in the state have to clear up outstanding tax owed to the state government before March 31, 2022 to avoid payment of penalties as well as other statutory sanctions.

Thus, the LIRS directed all individual taxpayers, including self-employed persons and employees under the Pay as You Earn (PAYE) scheme, to file their annual tax returns as required by law in accordance with provisions of Section 41 of the Personal Income Tax Act (PITA) Cap P8 2011.

The Act, according to LIRS makes it mandatory for all taxable person(s) to file a return of aggregate income from all sources for the preceding year with the state tax authority in which they are deemed resident within 90 days from the commencement of every new year of assessment.

“This return shall contain income earned from all sources in the year preceding the year of assessment and it must be filed not later than March 31 of every year.

“This return is expected to be filed by all individuals including those who are self-employed and submit their tax returns by way of direct assessments as well as those who are in paid employment under the Pay-As-You- Earn (PAYE) scheme,” the LIRS stated.

Ayodele Subair, executive chairman of LIRS, enjoined all taxpayers across the state to pay up their taxes before the deadline date, noting that the state government has been working tirelessly to provide a conducive environment for businesses to thrive in the state.

Subair stressed that it is mandatory for all taxable persons in the state to register on the LIRS e-Tax portal through the link: https://etax.lirs.net.

He noted that the link was built purposely for the convenience of taxpayers as it is easy, convenient, and safe.

The LIRS executive chairman further disclosed that tax officers have been designated at various tax stations to assist individuals to carry out online registration and filing of tax returns on the e-Tax portal to ensure ease in compliance for the taxpayers.