The Lagos State Internal Revenue Service (LIRS) has reminded all employers in the state to file their annual tax returns for the 2024 financial year by the statutory deadline of January 31, 2025, in accordance with the Personal Income Tax Act, Cap P8 LFN 2004 (as amended).
In a statement released on Sunday, Dr. Ayodele Subair, the Executive Chairman of LIRS, underscored the importance of adhering to this legal requirement, emphasizing that non-compliance could lead to significant penalties and statutory sanctions.
“Employers are legally obligated to submit detailed returns of all employee emoluments, including taxes deducted and remitted to the relevant authorities, by January 31 annually,” Subair stated. “Failure to meet this deadline risks attracting severe sanctions.”
Section 81 of the Personal Income Tax Act mandates that employers file returns covering the previous year’s income and taxes, detailing each employee’s earnings and the taxes deducted.
Subair further highlighted that timely submission of returns is crucial not only for legal compliance but also for effective revenue tracking, which plays a vital role in Lagos State’s fiscal planning and overall sustainability.
To streamline the filing process, LIRS has mandated that employers submit their tax returns exclusively through its e-Tax portal (https://etax.lirs.net), as manual submissions are no longer accepted.
Subair described the e-Tax platform as secure and user-friendly, designed to make the filing process more efficient and hassle-free.
“Employers must ensure they include the Payer ID of all employees in their returns,” he said. “Employees without a Taxpayer ID should generate one immediately on the e-Tax platform to avoid disruptions.”
For additional assistance, LIRS staff are available at its offices to guide employers on using the e-Tax portal and address any concerns or questions.
Subair encouraged all employers to act promptly to ensure they meet the deadline and fulfill their tax obligations in a timely manner.