TAX: LIRS GIVES 16-DAY ULTIMATUM TO LAGOS RESIDENTS

LAGOS – The Lagos State Internal Revenue Service (LIRS) has called on all taxpayers in the state to be on the right side of the law and take full advantage of the 16-day grace period from December 1st to 16th, 2016 to remit all overdue taxes/levies and those that would fall due in the month of December in order to avoid prosecution.

The LIRS has in the last few months embarked on massive advocacy and enlightenment programmes, taking Lagos residents and taxpayers through a process of education on the laws bordering on tax administration and the need and benefits of paying taxes as and when due.

In spite of the significant decline in the allocation from the federation accounts, the Lagos State government is still embarking on massive infrastructural development and renewal; these cannot be achieved if tax payers deliberately refuse to discharge their civic responsibility to the State.

Taxpayers are hereby advised to clear all outstanding payments within the period, failing which the Lagos State Government will commence criminal prosecution of offenders, with full enforcement of provision of the Personal Income Tax Act 2004 (As amended).

The LIRS said the under listed taxes and levies are expected to be remitted to the Lagos State Government within the grace period: Tax Audit Liability of back years, Personal Income Tax (PAYE, Direct Assessment, Self-Assessment), Withholding Tax , Hotel Occupancy and Restaurants Consumption Tax and Land Use Charge and Ground Rent.




According to the Executive Chairman of LIRS, Mr. Ayodele Subair “LIRS has put all the necessary machineries in place to ensure the enforcement of the tax laws with effect from December 17, 2016 when the grace period lapses.

He has advised all taxpayers to comply, reiterating that the full weight of the law will be brought to bear on any taxable persons or corporations who fail to remit all taxes/levies due.