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 taxableindividuals resident in Lagos State of a two-week extension of the deadline forfiling the 2020 individual income tax returns from 31 March 2021 to 14 April 2021. TheNotice can be accessed via this Link.
In line with Section 41 of the PersonalIncome Tax Act (PITA) (as amended), all taxable persons are required to file, withthe relevant tax authority, a return of claims and income from every source forthe year preceding the year of assessment. The return is to be filed within 90days from the commencement of every year of assessment (i.e., by 31 March ofevery year).
However, with the issuance of the Notice bythe LIRS, individual taxpayers resident in Lagos State during 2020 have anextended window of opportunity to collate all required documents for filingtheir individual income tax returns online via the dedicated e-taxportal.
We anticipate other state tax authoritiesmay issue similar filing extensions to allow tax residents in the respectivestates to meet their income tax filing obligations for 2020 given thechallenges that have been imposed by the COVID-19 pandemic. We aremonitoring developments in this regard.
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