Why taxpayers should meet March 31 deadline for annual tax return submission   

By Chioma Obinagwam

In compliance with the stipulations outlined in the Personal Income Tax Amendment Act (PITA) Cap P8 2011, the Lagos State Internal Revenue Service (LIRS), has issued a formal notification to all individual taxpayers, including self-employed individuals and employees under the PAYE Scheme to file their Annual Tax Returns on or before 31st March, 2024.

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

Confiance News gathered that 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.

Mr. Subair further underscored the importance of adhering to the deadline as he urged 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 emphasizing that tax returns should be submitted exclusively through the LIRS eTax portal, which can be accessed at https://etax.lirs.net, 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 concluded.

For filing and other tax-related inquiries, taxpayers are encouraged to contact the customer service center at 0700 CALL LIRS (0700 2255 5477) or via email at etaxinfo@lirs.net. Additionally, individuals can engage with LIRS on various social media platforms or visit the agency’s website at www.lirs.gov.ng for further information.