The Lagos State Internal Revenue Service (LIRS or “the Service”) has issued a Public Notice communicating additional palliatives that the Service is implementing to cushion the impact of COVID-19 pandemic on taxpayers resident in the State.
The additional palliative measures to be implemented by the Service are as follows:
We commend the LIRS for these palliative measures which will further ease the impact of COVID-19 on taxpayers resident in the State. The tax credit granted by the State Government for donors to COVID-19 management is remarkable, as the benefit is much more than what they would have clawed back if the palliative was limited to a mere tax deduction. This will hopefully encourage more taxpayers in a position to donate to the Government to do so. Hopefully, it will also influence other State Governments to consider a similar intervention in addition to other palliative measures that they might have given their resident taxpayers
The waiver of interest and penalty on additional tax liabilities arising from 2009 to 2015 tax audit for taxpayers who can pay up by 31 December 2020 is a significant incentive for affected taxpayers to regularize their position with the LIRS.
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