Thursday, April 1,
2021 / 9:00 AM / By Deloitte / Header Image Credit: Livemint
The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) informing all taxable individuals resident in Lagos State of a two-week extension of the deadline for filing the 2020 individual income tax returns from 31 March 2021 to 14 April 2021. The Notice can be accessed via this Link.
In line with Section 41 of the Personal Income Tax Act (PITA) (as amended), all taxable persons are required to file, with the relevant tax authority, a return of claims and income from every source for the year preceding the year of assessment. The return is to be filed within 90 days from the commencement of every year of assessment (i.e., by 31 March of every year).
However, with the issuance of the Notice by the LIRS, individual taxpayers resident in Lagos State during 2020 have an extended window of opportunity to collate all required documents for filing their individual income tax returns online via the dedicated e-tax portal.
We anticipate other state tax authorities may issue similar filing extensions to allow tax residents in the respective states to meet their income tax filing obligations for 2020 given the challenges that have been imposed by the COVID-19 pandemic. We are monitoring developments in this regard.