BREAKING: Lagos govt announces deadline for filing of 2024 annual tax returns

The Lagos State Internal Revenue Service has announced January 31, 2025, as the deadline for filing 2024 annual tax returns.

This was disclosed in a statement on Sunday by LIRS Deputy Director, Corporate Communication, Monsurat Amasa-Oyelude.

In the statement, the Executive Chairman of LIRS, Dr Ayodele Subair, emphasised that meeting this deadline is a legal obligation.

He warned that failure to comply will result in statutory sanctions, including penalties, as prescribed by law.

The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in Lagos State to fulfil their statutory obligation to file annual tax returns for the 2024 financial year on or before January 31, 2025. This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended).

In an official statement, the Executive Chairman of LIRS, Dr Ayodele Subair, emphasised that meeting this deadline is a legal obligation. He warned that failure to comply will result in statutory sanctions, including penalties, as prescribed by law.

“Section 81 of PITA mandates employers to submit comprehensive annual returns detailing all emoluments paid to employees, including taxes deducted and remitted to relevant tax authorities. These returns must be filed no later than January 31 each year and cover the income and taxes paid during the preceding year (2024).

“Employers must prioritise the timely filing of their annual income tax returns to avoid penalties. Submitting returns on or before the deadline ensures compliance with the law and supports accurate revenue tracking, which is essential for Lagos State’s fiscal planning and sustainability.”

The service has earlier urged firms within its jurisdiction to file their annual financial returns for 2024 in line with the states’ law.