Lagos Extends Deadline For Filing Of Annual Tax Returns To Feb 7

Lagos State government through the Lagos State Internal Revenue Service (LIRS) has extended the filing of employers’ annual tax returns by one week starting from February 1 to February 7, 2024 in view of the recent downtime experience on the e-tax portal.

The executive chairman of LIRS, Mr Ayodele Subair conveyed this in a public notice released by the agency on Tuesday.

Statutorily, the filing of annual tax returns by companies expires on January 31st of each fiscal year and attracts stiff penalties for defaulters. Hence, the state government advised taxpayers to take advantage of this extension to perform their civic obligation.

This extension, according to LIRS, is aimed at providing taxpayers with additional time to ensure accurate and timely submission of their annual tax returns.

Subair urged employers of labour to take full advantage of the extension to perform their civic obligation and avoid penalties and other statutory sanctions outlined in section 81(3) of the Personal Income Tax (Amendment) Act 2011.

“We understand that unforeseen circumstances may arise, and this extension is intended to accommodate such instances. We implore all employers of labour within Lagos State, who are experiencing difficulties in the filing of their tax returns to adhere to the revised deadline to maintain compliance and avoid any potential penalties,” he pointed out.