By Modupe Gbadeyanka
The Lagos State Internal Revenue Service (LIRS) has threatened to take legal action against anyone who fails to pay his tax to the government after Friday, December 16, 2016.
In order to avoid this, the LIRS has appealed to all taxpayers in the state to be on the right side of the law and take full advantage of the 16-day grace period from December 1 to 16, 2016 to remit all overdue taxes/levies and those that would fall due in the month of December in order to avoid prosecution.
In a statement issued by its Head of Corporate Affairs, Mrs Monsurat Amasa, the LIRS noted that in the last few months, it has embarked on massive advocacy and enlightenment programmes, taking Lagos residents and taxpayers through a process of education on the laws bordering on tax administration and the need and benefits of paying taxes as and when due.
The statement stated in spite of the significant decline in the allocation from the federation accounts, the Lagos State government was still embarking on massive infrastructural development and renewal; these cannot be achieved if tax payers deliberately refuse to discharge their civic responsibility to the state.
“Taxpayers are hereby advised to clear all outstanding payments ON OR BEFORE THE 16TH OF DECEMBER 2016, failing which the Lagos State Government will commence criminal prosecution of offenders, with full enforcement through distrain activities in line with relevant provisions of the Personal Income Tax Act 2004 (As amended),” the statement said.
According to the Executive Chairman of LIRS, Mr Ayodele Subair “LIRS has put all the necessary machineries in place to ensure the enforcement of the tax laws with effect from December 17, 2016 when the grace period lapses.”
He has advised all taxpayers to comply, reiterating that the full weight of the law will be brought to bear on any taxable persons or corporations who fail to remit all taxes/levies due.
The statement gave the under listed taxes and levies as what are expected to be remitted to the Lagos State government within the grace period:
* Tax Audit Liability of back years
* Personal Income Tax (PAYE, Direct Assessment, Self-Assessment)
* Withholding Tax
* Hotel Occupancy and Restaurants Consumption Tax
* Land Use Charge and Ground Rent
more recommended stories
Asian Shares Mostly Higher Despite Lack of Fresh Catalysts
By Investors Hub Asian stocks closed.
European Stock Market Close Flat as Euro Rally Halts
By Investors Hub European stocks were.
US Stocks May Record New Highs on Earnings Optimism
By Investors Hub The major U.S..
Banking Stocks Stimulate Market Growth by 2.17%
**As Investors Gain N335b By Modupe.