News Now: LASG Extends Tax Filing By Two Weeks

Lagos State Internal Revenue Service (LIRS) has extended filing on Individual Annual Tax Returns by an additional two weeks.

In accordance with the provisions of Section 41 of the Personal Income Tax Act LFN 2004 as amended, taxable persons, including self-employed, employees, professionals in the state, are to file their tax returns for 2020 Year of Assessment.

According to the Executive Chairman, LIRS, Ayodele Subair, “Statutorily, the filing of Individual Annual Tax Returns expires on March 31st of every fiscal year, and attracts penalties for defaulters.

Taxpayers are, thereby, urged to take advantage of this extension to perform their civic obligation.” The extension of the deadline is in response to appeals made by taxpayers as well as an attempt to assuage the effect of the pandemic on the taxpayers and residents of Lagos State.”

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