Nigerian Taxpayers Reminded to File Annual Returns by March 31 Deadline

Nigerian tax authorities have issued reminders to all taxpayers to file their annual income returns by March 31, 2026, in accordance with the Personal Income Tax Act (PITA) 2004 as amended. This requirement applies to all taxable individuals, including self-employed persons, those in the informal sector, and employees under the Pay-As-You-Earn (PAYE) scheme.

The Lagos State Internal Revenue Service (LIRS) emphasized that under Section 41 of PITA, all taxable persons must submit a comprehensive return detailing their total income from all sources for the previous fiscal year (January 1 to December 31, 2025) to the relevant state tax authority within 90 days of the commencement of the new assessment year.

Similarly, the Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged residents to comply with this mandate. The FCT-IRS highlighted that filing annual returns of income from all sources is mandatory for all taxpayers, including those in employment (private and public sector), public office holders, self-employed individuals, business owners, and partnerships/enterprises operating within the FCT.

Taxpayers are advised to fulfill their statutory obligations promptly to avoid penalties and other legal consequences. The LIRS has also noted that tax returns must be submitted exclusively through the LIRS eTax portal, designed to offer convenience, security, and ease of compliance.

Failure to file the returns by the March 31 deadline may result in the issuance of a best-of-judgment assessment on all defaulters, who would then be required to pay in line with the provisions of Section 54(3) of the Personal Income Tax Act. Additionally, defaulters may face other criminal and civil sanctions as prescribed by law.