The Lagos State Internal Revenue Service (LIRS) has urged all employers of labour in Lagos State to file their company’s annual tax returns on or before the statutory deadline of January 31, 2021 to avoid penalties.
The agency’s eTax platform, launched in October, 2019, gives taxpayers the opportunity to comply with all COVID-19 protocols, by filing their tax returns from the comfort of their offices or homes. In addition, all digital platforms and tax portals are available for taxpayers’ use and convenience.
The Annual Tax Returns, which show each employee’s emoluments and tax paid in year 2020, are to be filed via LIRS online portals only, as manual filing is no longer acceptable. Tax assessments, payments and other tax administration matters can also be carried out on the same platforms.
The Executive Chairman of LIRS, Mr. Ayodele Subair, stated that in the face of the prevailing realities of the COVID-19 pandemic and its effects on businesses, penalties and fines may be an additional burden on companies’ finances, and therefore urges all employers of labour to file their returns within the period stipulated by law.
The essence of the ongoing media campaign and numerous reminders and appeals to companies on this statutory obligation, is to ensure they file early, to avoid sanctions.
