This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), according to a statement by Monsurat Amasa-Oyelude, LIRS Deputy Director, Corporate Communications, on Sunday.
The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in Lagos State to fulfill their statutory obligation by filing their annual tax returns for the 2024 financial year on or before January 31, 2025.
This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), according to a statement by Monsurat Amasa-Oyelude, LIRS Deputy Director, Corporate Communications, on Sunday.
In the statement, the Executive Chairman of LIRS, Dr. Ayodele Subair, emphasised that meeting the deadline is a legal obligation.
He warned that failure to comply will result in statutory sanctions, including penalties, as prescribed by the law.
“Section 81 of PITA mandates employers to submit comprehensive annual returns detailing all emoluments paid to employees, including taxes deducted and remitted to relevant tax authorities,” the statement said.
“These returns must be filed no later than January 31 each year and cover the income and taxes paid during the preceding year (2024).”
Subair stressed that “employers must prioritize the timely filing of their annual income tax returns to avoid penalties”.
“Submitting returns on or before the deadline ensures compliance with the law and supports accurate revenue tracking, which is essential for Lagos State's fiscal planning and sustainability,” he said.
LIRS said it has transitioned to a fully digital filing system to simplify the process, adding that “manual submissions are no longer accepted”.
It said, “Employers are reminded to include the Payer ID of all employees in their returns. Employees without a Taxpayer ID are advised to generate one immediately on the e-Tax platform to prevent disruptions during the filing process.
“To assist employers, LIRS has deployed staff across its offices to provide guidance on using the e-Tax portal and addressing related concerns. Employers are encouraged to act promptly to meet the deadline and ensure compliance with tax laws.”