It explained that 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 31 is the deadline), while an employer of labour is required to file all emoluments paid to its employees for the preceding year, not later than January 31 each year. According to LIRS, any taxable person or corporate organisation who fails to file tax returns with it 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.
The LIRS said it has put all the necessary machineries in place to ensure the enforcement of the tax laws with effect from April 1, 2016, warning all erring taxpayers to comply or face the full weight of the law.
It noted that while many taxpayers have complied willingly by filing their returns in the last months, a large fraction of eligible taxpayers are still not complying, thereby failing to contribute to the common purse for the good of all.
It explained that without tax revenue, most infrastructure seen in civilised communities will not be possible in Lagos State. Roads to get to business sites will not be provided and businesses cannot thrive; if we do not have all the services that government is compelled to offer, including security, education, healthcare, and law and order as it is being proffered by the court. LIRS had in the last three months embarked on massive advocacy and enlightenment programmes, taking people through a process of education on the laws bordering on tax administration and the need and benefits of paying their taxes as at when due.
According to the Executive Chairman of LIRS, Mr. Olufolarin Ogunsanwo, Lagos has a robust database that captures all taxable individuals and firms as well as transactions for the purpose of audit, so there is no hiding place for any tax evader.
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