Finance

No extension of deadline for filing individual annual tax returns, LIRS warns 

LIRS reaffirms deadline for filing annual tax returns

The Lagos State Internal Revenue Service (LIRS) has announced that it has no plan to extend the deadline for filing individual annual tax returns beyond its statutory date of March 31.

 The Executive Chairman, Mr. Ayodele Subair, made this known at the LIRS headquarters, Alausa, Ikeja, where he advised all individual taxpayers, including self-employed persons and employees under the PAYE Scheme in Lagos to take advantage of the remaining days in March to file their annual tax returns to avoid payment of penalties, as well as other statutory sanctions, which may include prosecution.

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According to him, the obligation to file annual tax returns is stipulated in Section 41 of the Personal Income Tax Act (PITA).  The provision 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.

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He stated that LIRS has in the last 3 months engaged taxpayers, using various mediums to remind them of their statutory obligations as provided in the Personal Income Tax Act (PITA) Cap P8 2011 (as amended), warning that the agency is therefore set to use the full weight of the law in ensuring taxpayers who fail to meet this obligation are brought to book. The LIRS boss reiterated, “Filing of tax returns in Lagos State can only be done on the LIRS eTax portal using: https://etax.lirs.net.

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Sunnews

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