Anyone Or Corporate Organisation, Who Fails To File Their Tax Returns Will Now Be Prosecuted In Lagos

The Lagos State Internal Revenue Service has disclosed it will start prosecuting tax evaders and offenders in the state from April 1st, 2016. A statement by its Executive Chairman, Mr. Olufolarin Ogunsanwo, yesterday explained that a lot of Lagosians who are supposed to be paying tax have not been doing that, which is a criminal offence.

“Under the Personal Income Tax Act, a taxable person is statutorily required to file a return of income for the preceding year within 90 days from the commencement of every year of assessment (March 31st being the deadline), while every employer of labour is required to file all emoluments paid to its employees for the preceding year, not later than 31st of January each year.
“Therefore, any taxable person or corporate organisation, who fails to file their tax returns with LIRS by the stipulated date, is in breach of the provisions of the law, which is a criminal offence that is punishable under the tax laws,” part of the statement read.

This post is currently not accepting comments.