The Lagos State Internal Revenue Service (LIRS) yesterday reminded all individual taxpayers, including self-employed individuals, those in the informal sector, and employees under the Pay-As-You-Earn (PAYE) scheme, to submit their Annual Tax Returns on or before March 31, 2025.
This directive was in accordance with the Personal Income Tax Act (PITA) 2004 as amended.
According to a statement, the Executive Chairman of LIRS, Mr. Ayodele Subair, emphasised that under Section 41 of the Act, all taxable persons must submit a comprehensive return detailing their total income from all sources for the previous fiscal year (January 1st to December 31st 2024, in this case) to the relevant state tax authority within 90 days of the commencement of the new assessment year.