Lagos is one of the most important cities in Nigeria and Africa. As the commercial capital and the economic hub of West Africa it generates about 30% of Nigeria’s GDP. As a mega-city, which requires development that is commensurate to its status, there is an enormous demand on the leadership of the state to design economic policies that will constantly …

Legislators in Lagos State have commended the state Internal Revenue Service (LIRS) for achieving an unprecedented milestone in revenue generation, surpassing N1 trillion. This landmark accomplishment positions LIRS as the first sub-national revenue agency in Nigeria to attain such a feat, reflecting its professionalism, efficiency, and commitment to transparent tax administration. Former Chairman of the House Committee on Economic Planning …

The Lagos State Internal Revenue Service (LIRS) has been given a N1.4 trillion tax target revenue to enable the government implement its fiscal policies aimed at promoting socioeconomic growth. For a state that has been in the forefront of revenue generation rivalled only by the Federal Government, analysts believe the target is indeed realistic. The LIRS’s mission is to provide …

The Lagos State Internal Revenue Service (LIRS) has clarified that the requirement of Tax Clearance Certificate (TCC) for SS3 students in public schools to access free West African School Certificate Examinations registration is not new. In a statement on Monday, LIRS Executive Chairman, Mr. Ayo Subair said that the free registration is a vital policy of the state government, adding …

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

In compliance with the stipulations outlined in the Personal Income Tax Amendment Act (PITA) Cap P8 2011, the Lagos State Internal Revenue Service (LIRS) has issued a formal notification to all individual taxpayers, including self-employed individuals and employees under the PAYE Scheme to file their Annual Tax Returns on or before 31st March 2024. LIRS’ Executive Chairman, Mr. Ayodele Subair …

In view of the recent downtime experienced on the e-tax portal, the Lagos State Internal Revenue Service (LIRS) has extended the filing of employers’ annual tax returns by one week, from 1st to 7th February 2024. LIRS Executive Chairman, Mr. Ayodele Subair conveyed this in a public notice released by the agency on Tuesday. Statutorily, the filing of annual tax …

The Lagos State Internal Revenue Service (LIRS) has communicated a reminder to employers of labour to submit their annual tax returns on or before the stipulated deadline of 31st January 2024. The agency explained that this is in accordance with applicable tax legislation. In a statement, the agency’s Executive Chairman, Mr. Ayodele Subair said that employers of labour with businesses …

The Lagos State Internal Revenue Service (LIRS) has urged owners of restaurants, hotels, and event centres operating in the state to contribute to the state’s development by prioritising the monthly collection and remittance of a five per cent consumption tax on all consumables and personal services. On 22nd June 2009, the state enacted the Hotel Occupancy and Restaurant Consumption Law …

Lagos State Government has sealed a bilateral agreement with the Federal Government to harmonise tax administration, raise system efficiency and proffer solution to challenges of multiple taxation. On Monday, Governor Babajide Sanwo-Olu presided over a ceremony where Federal Inland Revenue Service (FIRS) and Lagos State Inland Revenue Service (LIRS) signed a Memorandum of Understanding (MoU) to establish a joint tax …