TheCable

The Lagos State Internal Revenue Service (LIRS) has reiterated that all employers of labour within the state must submit their annual tax returns by January 31, 2024.

Monsurat Amasa-Oyelude, head, corporate communications of LIRS, made the announcement in a statement on Sunday.

Speaking on the issue, Ayodele Subair, LIRS executive chairman, said employers of labour operating in Lagos state must adhere to the deadline.

He said failure to comply will result in penalties and other legal sanctions outlined in section 81(3) of the Personal Income Tax (amendment) Act 2011, which stipulates January 31 as the deadline for filing of annual tax returns.

The FIRS chairman said the exclusive platform for filing annual income tax returns in Lagos state is the LIRS e-tax portal, as manual filing is no longer permissible.

He urged businesses and employers to leverage the e-tax portal for filing, pointing out that it is easy to use, convenient, and safe.

“The e-Tax portal is designed for the convenience of taxpayers, making tax transactions easily accessible from the comfort of homes and offices,” Subair said.

He said for any employer to file their annual income tax returns on the e-tax portal, they must have a taxpayer identification (ID).

Subair told employers to generate a taxpayer ID — where applicable — for their employees and to file their pay-as-you-earn (PAYE) returns through the e-tax portal.