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LIRS

LIRS Extends Deadline to File Annual PAYE Returns by Two Weeks

Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing of 2020 Annual PAYE Returns from January 31, 2021 to February 14, 2021.

In the public notice issued by the LIRS, the tax authority stated that the extension becomes necessary due to appeals from taxpayers and to alleviate the effect of Covid 19 Pandemic on residents and taxpayers in Lagos State.

WYZE Comments: We salute the LIRS for taking a lead in this regard to reduce suffering of taxpayers due to Covid 19 Pandemic while we enjoin other State Internal Revenue Services to emulate the LIRS’s initiative and grant extension in their respective jurisdiction. Organizations in Lagos State that have not filed Annual returns are advised to take advantage of this extension to be tax compliant and avoid penalty payment of ₦ 500,000 for failure to file returns.