By G9ija

The Lagos State Internal Revenue Service (LIRS) has enjoined all taxable person(s) (including self-employed, employees, professionals) in Lagos State to file their individual annual tax returns for 2021 Year of Assessment in accordance with the provisions of Section 41 of the Personal Income Tax Act LFN 2004 as amended. The individual tax returns are to be filed in accordance with the provisions of the tax law, section 41 (1) (3);

It stated that for each year of assessment, a taxable person shall without notice or demand file a return of income in the prescribed form containing the required information with the tax authority of the State in which the taxable person is deemed to be a resident together with a true and correct statement in writing containing:

In addition taxable persons shall file with the relevant tax authority the returns as stipulated in this section within 90 days from the commencement of every year of Assessment (31st March). According to the Executive Chairman, LIRS, Mr. Ayodele Subair, “the statutory deadline to file Individual Tax Return is March 31, 2021 and is just two weeks away. He  urged all taxable residents in the state to comply with the tax laws and file on time to avoid penalties and interests which may accrue against defaulters.”