Annual Returns Deadline for 2023
State Internal Revenue Services in Nigeria has issued a public notice on the filing of annual returns deadline for 2023.
This public notice on the filing of annual returns. is inline with the relevant provisions of Personal Income Tax Act (PITA), which obligated Employer of Labour in every State of the Federation, to file Annual Returns of their Employee for Year of Assessment with the relevant Internal Revenue of their respective State of Residence.
In view of this, all Employers of Labour are expected to comply with this notice, both in Abuja (FCT) and other State and other parts of the Federation, not later than 31st of January 2023.
With this provision, Directors and Proprietors under the Direct Assessment method of tax remittance is equally expected to file their returns not later than 31st of March 2023
Where an employer fails to file the required Annual Employer’s Return on the due date, a penalty of N500, 000 shall be imposed upon conviction, if such employer is a body corporate and N50, 000 in the case of an individual.
For mor enquiry on how to comply with the filing of Annual Returns, kindly contact us at SOW Professional for necessary supports on this.
SOW Professional Services
Phone: 07038254989 Whassap: 07038254989