Deadline for filing the 2020 Individual Income Tax Returns (Form A)

Deadline for filing the 2020 Individual Income Tax Returns (Form A)

In accordance with Section 41 of the Personal Income Tax Act (PITA) (as amended), all taxable persons are required to file a return of claims and income from every source (earned and unearned income) for the year preceding the year of assessment, with the relevant tax authority (RTA).

Deadline for filing of annual employers tax returns (Form H1)

Deadline for filing of annual employers tax returns (Form H1)

The 2020 Employer Tax Returns (Form H1) are due for filing by 31 January 2021. The Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended to date), requires every employer to submit Tax Returns (Form H1) with the relevant State Tax Authorities where its employees are tax resident.

Lagos State Internal Revenue Service introduces Enterprise Tax Administration System (e-Tax)

Further to the launch of e-Filing portal for submission of individual and employer’s tax returns early this year, Lagos State Internal Revenue Service (LIRS), has now introduced a multi-channel tax and levies payment solution.

Deadline for filing of annual employers tax returns (Form H1)

Under the Personal Income Tax Act, every employer is statutorily required to submit employers’ tax returns (Form H1) with the relevant tax authority of all emoluments paid to its employees in the preceding year.

LIRS to automate collection of consumption tax using Electronic Revenue Assurance system

The Lagos State Internal Revenue Service (LIRS) has introduced an Electronic Revenue Assurance (ERA) system for the collection of consumption taxes from hotels, night clubs and event centres (hospitality outlets) in Lagos State.

LIRS issues public notice on treatment of savings element on insurance premium

The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) to clarify the treatment of savings element on insurance premium.

Interest deductions on owner occupied residential houses limited to first application only- LIRS

The Lagos State Internal Revenue Service (LIRS) issued a public notice (the Notice) on 20 September 2017 with respect to allowable interest deductions on owner-occupied residential houses.