LIRS Urges Timely Tax Return Submission: March 31 Deadline Looms

The Lagos State Internal Revenue Service (LIRS) recently reminded all individual taxpayers, including self-employed individuals and employees under the PAYE Scheme, to file their Annual Tax Returns on or before the looming deadline of March 31, 2024.

This announcement was made in compliance with the stipulations outlined in the Personal Income Tax Amendment Act (PITA) Cap P8 2011.

In a statement signed by LIRS Executive Chairman, Mr. Ayodele Subair, and released by the Head of Corporate Communications, Monsurat Amasa-Oyelude, the LIRS emphasized the importance of adhering to the deadline to avoid penalties and other statutory consequences.

Taxpayers are required to 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, as stated in Section 41 of the Amendment Act.

To streamline the process and ensure ease, convenience, and security, the LIRS has made it mandatory for all taxable entities within Lagos State to register on the LIRS eTax portal, which can be accessed at https://etax.lirs.net.

This portal is the only means of submitting tax returns.

In an effort to facilitate compliance, the LIRS has dedicated tax officers stationed at various tax stations to assist taxpayers in completing online registration and tax return submissions via the eTax portal.

As the deadline approaches, all individual taxpayers in Lagos State are encouraged to fulfill their obligation and submit their tax returns on time to avoid any potential penalties or consequences.

Stay informed and up-to-date on the latest news and updates from the LIRS by following their official channels and ensuring you file your tax returns on time.