LIRS recorded N25bn revenue in December’

The Lagos Inland Revenue Service, on Wednesday, said it raked N25bn into the stake government’s coffers in December 2016, despite the biting economic recession in the country.

The Executive Chairman, LIRS, Mr. Ayodele Subair, said the agency was targeting N30bn revenue this month and the subsequent ones in the year.

According to him, in view of the plan by the Governor Akinwumi Ambode-led administration to present a N1tn budget proposal for next year, the LIRS has also set a N50bn monthly revenue target.

Subair, who was speaking during this year’s Annual Tax Week, although the task was daunting, it was achievable.

Themed, “Economic recession: Taxation as a survival roadmap’’, the programme was organised by the Lagos District Society of the Chartered Institute of Taxation of Nigeria.

On funding of the 2017 spending plan of the state, Subair said, “With the budget of about N813bn, the LIRS is looking at leveraging technology and improved automation of its services and that of the state government.”

The LIRS chairman said the agency was working on how to integrate the databases of all government agencies to ensure that the right questions are being asked at all times.

“LIRS is ensuring collaboration within various government ministries to pool together a huge database that will enhance revenue collection,” he added, noting that the ongoing recession and particularly the drop in oil price was a blessing in disguise.

In a presentation titled, “Recession impact on state budgets, taxation as a mitigant”, the Partner, Tax and Regulatory Services, Deloitte Nigeria, Mr. Abayomi Olugbenro, warned that the challenging operating environment would reflect in the revenue of state governments and the Value Added Tax.

This, he said, might make it increasingly difficult for state governments to meet their recurrent obligations.

He, therefore, urged state governments to expand the tax net, rather than increase rates.

Olugbenro said, “If we don’t increase the tax net, it may impede national recovery.”

Discussing the presentation, Mrs. Titilayo Fowokan, urged state governments to look into the area of luxury goods/lifestyle tax, advising that the proposed tax amnesty should be in good faith and should not be used as a bait, just as there should be a lot of enlightenment around it.

LIRS gives a 16-day ultimatum for payment of taxes

The Lagos State Internal Revenue Service (LIRS) enjoins all taxpayers in Lagos State to be on the right side of the law and take full advantage of the 16-day grace period from December 1st to 16th, 2016 to remit all overdue taxes/levies and those that would fall due in the month of December in order to avoid prosecution.
The LIRS has in the last few months 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.
In spite of the significant decline in the allocation from the federation accounts, the Lagos State government is still embarking on massive infrastructural development and renewal; these cannot beachieved 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 provisionsof the Personal Income Tax Act 2004 (As amended).
The under listed taxes and levies 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
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 thefull weight of the law will be brought to bear on any taxable persons or corporations who fail to remit all taxes/levies due.
The LIRS appreciates and thanks the good people of Lagos State who have continually supported the government by voluntarily paying their taxes promptly and correctly and promises to continue to act within the ambit of the law to prosecute tax evaders. END
SignedMonsurat AmasaHead, Corporate AffairsLagos State Internal Revenue Service