The Lagos State Internal Revenue Service (LIRS) has restated the cutoff date of January 31, 2026, for all employers regarding the mandatory submission of their annual tax returns for the 2025 financial year.
In a statement released yesterday, Dr. Ayodele Subair, the Executive Chairman, reminded employers of their duty to submit annual returns in line with the Nigeria Tax Administration Act 2025 (NTAA).
He clarified that employers must provide comprehensive returns detailing the emoluments and payments made to their employees as well as to their service providers, consultants, and vendors, ensuring that all applicable taxes owed from the previous year are fully paid.
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Subair stressed that the filing of annual returns is a compulsory legal requirement, warning that non-compliance could result in legal repercussions, including administrative penalties as dictated by the revised tax legislation.
As stated in Section 14 of the Nigeria Tax Administration Act 2025 (NTAA), employers are mandated to file detailed yearly returns that include all emoluments paid to workers, along with the relevant taxes deducted and forwarded to the appropriate authorities. These returns must be submitted by January 31 annually.
Subair remarked, “Employers need to prioritize the timely submission of their annual income tax returns. Adhering to this should be incorporated into our daily business operations. Filing accurately and promptly not only complies with the legal framework set by the Nigerian Constitution but also aids in efficient revenue tracking, which is crucial for the fiscal planning and sustainability of Lagos State.”
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