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LIRS gives March 31 deadline for tax return submission

366547b0 tax illustration

The Lagos State Internal Revenue Service has issued a formal notification to all individual taxpayers, including self-employed individuals and employees under the Pay As You Earn Scheme, to file their Annual Tax Returns on or before March 31, 2024.

The Executive Chairman, LIRS, Mr Ayodele Subair, announced this in a statement signed by the Head, Corporate Communications, Monsurat Amasa-Oyelude, on Sunday.

Subair was quoted as saying that the move was in compliance with the stipulations outlined in the Personal Income Tax Amendment Act Cap P8 2011.

“Under Section 41 of the Amendment Act, all taxable entities must submit a return reflecting their total income from all sources for the preceding fiscal year to the relevant state tax authority within 90 days of the commencement of each new assessment year,” the executive chairman said.

He further stressed the importance of adhering to the deadline, urging all individual taxpayers, including self-employed individuals and employees under the PAYE scheme in Lagos State, to fulfill their obligation by the stipulated date to avoid penalties and other statutory consequences.

While emphasising that tax returns should be submitted exclusively through the LIRS eTax portal, the LIRS boss said all taxable entities within Lagos State must register on the eTax portal, “which has been designed to provide ease, convenience, and security to taxpayers.”

“In furtherance of our commitment to facilitating compliance for taxpayers, dedicated tax officers are available at our various tax stations to assist individuals in completing online registration and tax return submissions via the eTax portal,” Subair added.

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