LIRS clarifies the definition of reasonable removal expenses for the purpose of tax exemption

The Lagos State Internal Revenue Service (LIRS) recently issued a public notice to all employers, company owners and their representatives, employees, high net worth individuals and other members of the public to clarify the definition of reasonable removal expenses for the purpose of tax exemption. LIRS cited Section 4(3)(c) of Personal Income Tax Act, LFN Cap P8 2004 as amended, which exempts “reasonable removal expenses” from tax.