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…
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…
Calculate PAYE tax online Online PAYE Tax Calculator with changes in Finance Act 2020 PAYE tax is the tax on employment income. Finance Act 2020 has also introduced changes in how to calculate PAYE tax….
The Lagos State Internal Revenue Service (LIRS) has extended the time for filing 2020 employer tax returns by fourteen (14) days. The initial due date of 31 January 2021 is no more applicable. The new…
After the tax authority conducts an audit on business records, the next step is usually a tax audit reconciliation meeting. The purpose is to resolve any outstanding tax issues in a physical visit to the…
In March 2020, taxpayers in Lagos State received an additional period of 2 months to file the annual individual tax returns or Form A. The revised due date was May 30, 2020. However, Lagos State…
Usually, the gross salary on an employment contract differs from the monthly salary which an employee receives. Our earlier article on payroll and statutory contributions in Nigeria provides an analysis of the various requirements. One…
To lower the impact of COVID-19 on taxpayers, the Federal Capital Territory Internal Revenue Service (FCT-IRS) has extended the time for filing the annual individual tax returns (Form A) by 3 months. The new deadline…
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 2 months. The new deadline for…
On 22 January 2020, the Tax Appeal Tribunal in South-South zone decided that a tax authority is not allowed to carry out PAYE tax audit on a taxpayer beyond 6 years except in cases of…
According to the Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended), every employer shall file employer tax returns (Form H1) with the relevant tax authority by 31 January. The Lagos State Internal…
Hauwa Obi was excited to receive her first salary in September 2019. She was however surprised to see three statutory deductions on her payslip. “Could there be a mix-up?”, thought Hauwa. Even though she was…