LIRS issues stern warning to employers: Beat Jan. 31 deadline or face hefty penalties

The Lagos State Internal Revenue Service (LIRS) has sent a powerful warning to employers across Lagos State, urging them to file their annual tax returns for the 2024 financial year before the fast-approaching January 31, 2025 deadline.

In a no-nonsense reminder, Dr. Ayodele Subair, Executive Chairman of LIRS, underscored the legal obligation of employers to meet this crucial deadline.

Failure to comply, he stressed, would result in severe statutory sanctions, including hefty penalties, as mandated by the law.

According to Section 81 of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), employers are legally required to submit detailed annual returns that list all emoluments paid to employees, along with taxes deducted and remitted to the relevant authorities. The deadline for submission is non-negotiable, and the returns must cover the income and taxes paid during the preceding year (2024).

Subair issued a stern warning: “Employers must prioritize meeting this deadline to avoid penalties. Filing returns on or before January 31 is essential for compliance with the law and critical for the effective management of Lagos State’s revenue stream.”

In a bid to streamline the process, he said LIRS has fully embraced digital transformation, saying all employers are now required to file their returns exclusively through the secure and user-friendly LIRS e-Tax portal at https://etax.lirs.net.

He said the era of manual submissions is over, hailing the e-Tax platform as a modern solution designed to make tax filing more convenient and efficient.

“Employers are also reminded to include the Payer ID of all employees in their returns. For those without a Taxpayer ID, it’s crucial to generate one immediately via the e-Tax platform to avoid delays and ensure smooth processing.

“LIRS has deployed a dedicated team across its offices to assist employers with navigating the e-Tax system and addressing any concerns. Employers are urged to act now, as the clock is ticking, and the deadline is rapidly approaching,” he said.