File annual tax returns by January 31 to avoid sanctions, LIRS tells firms

The Lagos Internal Revenue Service (LIRS) says all companies in the state must file their annual tax returns by January 31 to avoid penalties for noncompliance.

In a statement on Sunday, Ayodele Subair, executive chairman of LIRS, said the directive aligns with the personal income tax Act (PITA) Cap P8 LFN 2004 (as amended).

Subair said employers must meet the deadline as a legal obligation, warning that failure to comply would result in statutory sanctions, including penalties, as prescribed by 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 LIRS boss 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).

“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.

“To simplify the process, LIRS has transitioned to a fully digital filing system.”

Subair said manual submissions are no longer accepted, stressing that employers must “file their annual tax returns exclusively through the LIRS e-Tax portal at https://etax.lirs.net”.

The LIRS boss described the e-tax platform as secure, user-friendly, and designed to provide employers with a convenient way to manage their tax obligations.

“Employers are reminded to include the Payer ID of all employees in their returns,” he added.

“Employees without a Taxpayer ID are advised to generate one immediately on the e-Tax platform to prevent disruptions during the filing process.”

The LIRS executive also said the agency has deployed staff members across its offices to provide guidance to employers on using the e-tax portal and address related concerns.

Subair encouraged employers to act promptly to meet the deadline and ensure compliance with tax laws.