In furtherance of the commitment to mitigate the negative effect of COVID-19 pandemic on individuals and businesses, the Lagos State Internal Revenue Service (LIRS) has commenced the implementation of more reliefs and measures to further ease the impact of the pandemic on taxpayers in Lagos State starting from July 16.
These additional measures and incentives are sequel to the agency’s initial three-month extension of the deadline for filing of annual returns (from March 31 to June 30, 2020).
The Executive Chairman, LIRS, Mr Ayodele Subair, said: “The following measures are to be implemented to further ease the impact of the pandemic on our esteemed taxpayers in Lagos state: LIRS shall allow on a case by case basis, payment of outstanding liabilities in instalments to ease cash flow challenges that may affect taxpayers.
Taxpayers are to enjoy a waiver of penalty for late payment of liabilities under PAYE (Pay As You Earn) that was due during the period of March-May, 2020 when the state was under COVID-19 lockdown. (Nation)