Failure to file annual tax return, prison offence – LIRS director

Are there any particular authorized provisions or statutes governing Lagos State residents’ submission of Annual Tax Returns?

There are authorized provisions governing the submission of annual returns; the chief amongst them is our Grundnorm, the Structure of the Federal Republic of Nigeria, 1999. It makes submitting returns a constitutional responsibility for Nigerian residents. Part 24 (1) (f) states that each citizen shall declare his revenue to applicable and lawful companies and pay his tax promptly. Additionally, Part 41 of the Private Revenue Tax Act, 2011 (as Amended) acknowledged {that a} taxable shall, without discovery or demand, file a return of revenue from each supply of the previous year and within 90 days from the graduation of yearly of evaluation (earlier than thirty first March) to the related tax authorities.

What authorized penalties might people face for failing to file their Annual Tax Returns in Lagos State?

A person who fails to file tax returns will face several jeopardies for this failure as stipulated by the Private Revenue Tax Act 2011 as amended. These jeopardies embrace pecuniary fines and custodial punishments. Moreover, the person is liable to be assessed on a better-of-judgment foundation beneath extant provisions of the act—numerous cases of people being prosecuted for failure to file and pay estimated taxes. Only in the near past, the company instituted prison actions in opposition to a highly regarded particular person in Lagos State for this offence. Upon his failure to take care of his prison summons, the courtroom issued a bench warrant for his arrest, and he was subsequently remanded to the Kirikiri Jail for leaping bail. This underscores the seriousness of this offence.

What authorized rights do people have concerning the confidentiality of their tax info when submitting Annual Tax Returns in Lagos State?

People have authorized rights to confidentiality concerning their tax info. Extant provisions of the amended Private Revenue Tax Act 2011 protect this proper. This provision prohibits tax authorities from disclosing taxpayer info to 3rd events besides in the circumstances strictly offered by the Act. This confidentiality provision ensures that taxpayers’ delicate monetary info stays safe and is just accessed by licensed personnel for respectable functions akin to tax evaluation and enforcement. Any breach of this confidentiality provision may result in authorized penalties for the tax authority.

Can people legally problem or enchantment any selections or assessments made by LIRS concerning their Annual Tax Returns?

Sure, a person possesses the authorized authority by part 58 of PITA to formally object to an evaluation issued on him within 30 days, stating the bottom of his objection. This ensures equity and accountability in tax evaluation.

Are there any authorized implications for people who knowingly present false or inaccurate info on their Annual Tax Returns in Lagos State?

The regulation severely frowns opposition to giving false info in a tax return, and the implications will be critical. Anybody who engages in this may be charged with an offence of rendering false statements and returns. Upon conviction, the person could also be subjected to a high quality of N50,000 or imprisonment for no more than six months.

What authorized recourse do people have if they imagine they’ve been unfairly penalized or handled by LIRS about their Annual Tax Returns in Lagos State?

Step one to resolve any difficulty with an evaluation is to object within 30 days of receiving it. If the taxpayer remains displeased with the company’s choice, he can readily approach the Tax Enchantment Tribunal for redress.

Are there any authorized necessities or obligations for people to maintain information or documentation associated with their Annual Tax Returns in Lagos State?

Maintaining books of accounts is an authorized obligation, and it is highly pertinent to the power to file the proper tax returns. It turns into prima facie proof to help the accuracy of the returns filed, and it helps to expedite the reconciliation of evaluation should there be a dispute. As an authorized obligation, failing to maintain books of accounts is an offence beneath the Private Revenue Tax Act 2011 as amended; it’s punishable by a cost of N50,000 high-quality upon conviction.

Although the submitting of returns is a constitutional and statutory one, which doesn’t require LIRS to offer to discover or make a requirement on taxpayers to file, the company nonetheless employs the mixture of public notices on the varied media platforms and by direct notifications in writing to tell people of their duties to file their returns. As earlier identified, the failure of People to file their returns has dire penalties for the taxpayers. It needs to be known most severely that the consequential result of failure to file or submit false returns is a prison cost earlier than applicable courts, and that is akin to a strict legal responsibility offence. All of the penalties are made upon conviction. No person ought to change into a convict with all its attendant unfavourable connotations because of failing to carry out a train made very simple by the e-filing course.

Are there any authorized distinctions or implications for people submitting Annual Tax Returns primarily based on their residency standing in Lagos State?

The residency rule is essential for submitting tax returns and the cost of taxes. A taxpayer who resides inside the geographical territory of Lagos State should file and pay his taxes to the LIRS.

When looking for technical help, what help channels can be found for taxpayers?

The company maintains a dedicated name centre, a dedicated helpdesk, a chat option on the e-Tax platform and the LIRS official website, and strong engagement on numerous social media platforms.