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Countdown to the January 31 deadline for filing 2019 PAYE tax returns

Countdown to the January 31 deadline for filing 2019...

It is now 12 working days to the expiration of the 31 January 2020 statutory deadline for the filing of Employer’s Pay-As-You-Earn (PAYE) tax returns.

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Wole Obayomi

Partner & Head, Tax, Regulatory & People Services

KPMG in Nigeria

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Countdown to the January 31 deadline for filing 2019 PAYE tax returns

The returns, which show each employee’s emolument and tax paid in the preceding year, are to be filed with the relevant tax authority in the State where the employees were resident (and with the Federal Capital Territory Internal Revenue Service for employees that were resident in Abuja) in 2019.

The Lagos State Internal Revenue Service (LIRS) and Rivers State Internal Revenue Service (RIRS) have online platforms through which employers or designated tax agents are required to file their statutory PAYE tax returns. Consequently, submission of hardcopy returns at the LIRS and RIRS tax offices are no longer acceptable. Please click on the following links to access guidelines issued by the LIRS and the RIRS for electronic filing of the PAYE returns.

It is important to note that failure by an employer to file the annual PAYE tax returns within the statutory timeline attracts a penalty of ₦500,000 and ₦50,000 upon conviction, for corporate entities and individuals, respectively.

Taxpayers should, therefore, ensure prompt compliance in order to avoid penalties by relevant tax authorities.

For further enquiries on the above, please contact:

Wole Obayomi

ng-fmtaxenquiries@ng.kpmg.com

© 2020 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

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