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…
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…
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…
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 deadline is now Sunday, 14…
Welcome to the monthly series on Nigeria Tax Highlights. In this summary, we have put together the top 5 events that will bring us up to speed with the Nigerian taxation for July 2020. Here are the five (5) blog…
The COVID-19 pandemic has changed the way businesses sustain their operations; likewise, the tax and regulatory authorities. A tax authority may choose from two options in the post COVID-19 economy. Option 1: Maintain status-quo and wait for taxpayers to settle…
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 tax office. However, the COVID-19…
