The Lagos State Internal Revenue Service (LIRS) is implementing additional measures to further ease the impact of the pandemic on taxpayers in the state.
The Executive Chairman of the Agency, Ayodele Subair, noted that since the outbreak of Covid-19 pandemic, Lagos State Internal Revenue Service (LIRS) has taken several measures to mitigate its impact on taxpayers and to ensure business continuity. One of such measures is the 3-month extension of deadline for filing of annual returns from March 31 to June 30, 2020.
The additional measures include the following:
- LIRS shall be allowing on a case by case basis for payment of outstanding liabilities in instalments to ease cash flow challenges that may affect taxpayers.
- Waiver of penalty for late payment of liabilities under PAYE that were due during the period when the State was under lockdown (March-May 2020).
- Waiver of penalties due on late filing of 2020 annual tax returns (Form A)
- Waiver of interest and penalty components of outstanding tax audit liabilities from 2009 to 2015 for entities that present and keep to a structured payment plan that terminates on or before December 31, 2020.
- Grant of tax credit of 20% of cash and kind donations made for Covid-19 by resident individuals to LASG for the 2021 Year of Assessment only subject to a cap of 35% of tax due.
- Payment channels have been increased to make payment of taxes easier, simpler and more convenient for all.
- Video conferencing has been adopted as the default mode for conduct of Tax Audit Reconciliation Committee (TARC) meetings in consonance with social distancing advisories from Government and other relevant authorities.
The agency expresses hope that all Residents of Lagos State will take advantage of these palliatives and reciprocate the kind the kind gestures of Lagos State Government through discharge of their civic responsibilities by promptly paying taxes and levies due to the State.