There’s good news for businesses in Lagos State, yet to file their annual tax returns. The Lagos State Internal Revenue Service (LIRS) has extended the time to file 2023 tax returns by seven (7) days. The initial due date of…
As the first month in 2024 draws to an end, businesses are reminded to file their 2023 employer tax return. The annual tax return showing employee(s) income and PAYE tax paid from 1 January 2023 to 31 December 2023 will…
The Lagos State Internal Revenue Service (LIRS) has issued a new way of generating bill references to pay taxes in Lagos State effective 1 August 2022. Taxpayers must generate bill references on the eTax portal for all tax payments, which…
It’s the season for filing payroll tax in Nigeria. The Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended) requires every employer to file the employer tax returns (Form H1) with the relevant tax authority by 31 January. Employers are…
What is payroll tax reconciliation? A payroll tax reconciliation checks whether the PAYE tax calculated corresponds with the actual amount payable. A regular reconciliation lowers payroll tax exposure. An employer can carry out a reconciliation exercise quarterly, bi-annually, or annually.…
If you want answers to common questions on Nigerian PAYE tax, you are in the right place. Personal income tax is a type of direct tax that impacts the net salary of an employee. We’ve addressed twelve (12) frequently asked…
Taxable persons under the Personal Income Tax Act in Nigeria will use a new basis to determine chargeable income. The changes in personal income tax law are in line with the Finance Act 2020 which came into force on 1…
To lower the impact of COVID-19 on taxpayers, the Lagos State Internal Revenue Service (LIRS) has extended the time for filing the annual individual tax returns (Form A) by 14 days. The new deadline for filing Form A is 14…
