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Lagos Businesses Get a Break: Tax Filing Deadline Extended!

Attention all businesses operating in Lagos!

The Lagos State Internal Revenue Service (LIRS) has heard your concerns and granted a one-week extension for filing your annual tax returns.

Initially due on January 31st, the new deadline now stands at February 7th, 2024.

This welcome decision comes after recent technical glitches plagued the LIRS e-Tax portal, causing inconvenience and potential delays for many businesses.

Recognizing these unexpected hurdles, the LIRS aims to ensure everyone has ample time to fulfill their tax obligations without facing unnecessary penalties.

Why the Extension?

The recent downtime on the e-Tax platform posed a significant challenge for many businesses attempting to file their returns electronically.

LIRS, understanding the frustration and disruption this caused, prioritized resolving the technical issues while acknowledging the potential impact on timely filing.

By offering an extension, they aim to strike a balance between maintaining tax compliance and accommodating unforeseen circumstances.

What This Means for You:

If you’re a Lagos-based business, breathe a sigh of relief!

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You now have an extra week to gather your documents, complete your tax forms, and file your returns through the e-Tax portal or at designated tax stations.

Taking Advantage of the Extension:

  • Utilize the extra time: Don’t wait until the last minute! Use this opportunity to carefully review your records and ensure your returns are accurate and complete.
  • Seek assistance if needed: Don’t hesitate to reach out for help. The LIRS customer service center and tax station help desks are available to answer your questions and guide you through the filing process.
  • Avoid penalties: Remember, this extension is a one-time offer. Adhering to the revised deadline of February 7th is crucial to avoid any potential penalties outlined in the Personal Income Tax (Amendment) Act.

LIRS Encourages Compliance:

While acknowledging the recent challenges, the LIRS emphasizes the importance of businesses fulfilling their civic duty and contributing to the state’s development through timely tax payments.

Executive Chairman Ayodele Subair encourages all employers to leverage this extension and adhere to the revised deadline.

Remember:

  • New deadline: February 7th, 2024
  • Who it applies to: All businesses operating in Lagos State
  • Reason for extension: Recent technical issues with the e-Tax portal
  • Resources: LIRS customer service center, tax station help desks, LIRS website

Don’t miss out on this valuable opportunity!

Take advantage of the extended deadline and file your annual tax returns by February 7th to ensure compliance and avoid penalties.

By working together, we can contribute to a more prosperous Lagos for all.

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