Lagos revenue body extends deadline for filing of returns
In view of the coronavirus pandemic altering socio-economic activities worldwide and as part of the on-going efforts to mitigate the effect on businesses and taxpayers, the Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing of annual returns for individual taxpayers including self-employed persons for two months from April 1 to May 31, 2020.
Statutorily, the filing of annual returns expires on the March 31st of every fiscal year, and attracts stiff penalties for defaulters. With this extension as announced by LIRS, taxpayers are given a breather.
According to the Chairman of Lagos State Internal Revenue Service Mr. Ayodele Subair, the extension of deadline of the annual returns is in response to appeals made by taxpayers as well as a policy shift by the agency to assuage the effect of COVID-19 on the taxpayers and residents of Lagos State.
The management and staff of LIRS appeal to the residents of Lagos State to support the efforts of the Lagos State Government led by Mr. Babajide Sanwoolu by adhering strictly to the COVID-19 safety guidelines as issued by relevant health authorities.