LIRS Warns Business Owners Ahead of Deadline

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CEM REPORT, FINANCE | Business owners in the Lagos metropolis have been reminded to file their annual tax returns on or before January 31, 2023.

The Lagos State Internal Revenue Service (LIRS) warned that failure to do so by any business in the state will incur the wrath of section 81 (2) of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended) for defaulters.

In a statement signed by the Head of Corporate Communications of LIRS, Monsurat Amasa, on Sunday, the agency noted that the filing should be done on its agency’s portal.

“For filing the annual income tax returns in Lagos State, the only available platform is the LIRS e-Tax portal: https://etax.lirs.net.

“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.”

The Personal Income Tax Act (PITA) stipulates January 31 as the deadline for filing annual income tax returns, failing which a penalty accrues.

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To be on the eTax platform, corporate bodies can visit https://etax.lirs.net, input the company’s payer ID, the password, click login, generate the bill and then make the payment.

“Taxpayer ID of all employees is compulsory for the annual income tax returns to be successfully filed on the e-Tax portal. Therefore, all employees and taxable persons within the State are advised to generate a taxpayer ID (where applicable) and file their individual annual income tax returns on the e-Tax portal,” the LIRS stated.

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