Employers get Jan. 31 deadline to file tax returns in Lagos

The Lagos State Internal Revenue Service (LIRS) has given employers in Lagos State January 31 to fulfill their statutory obligation to file annual tax returns for the 2024 financial year.

This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended).

Executive Chairman of LIRS, Dr. Ayodele Subair, emphasised that meeting this deadline is a legal obligation.

He warned that failure to comply will 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.

These returns must be filed no later than January 31 each year and cover the income and taxes paid during the preceding year (2024).