Home Business OGIRS Urges Taxable Adults To File In 2020 Annual Returns

OGIRS Urges Taxable Adults To File In 2020 Annual Returns

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Ogun State Internal Revenue Service (OGIRS), has called on taxable adults in the State to file in their annual returns on income from all sources for the year 2020, in compliance with the provision of section 41 of the Personal Income Tax Act (PITA), 2011 as amended.

A release signed by the Executive Chairman of OGIRS, Mr. Olugbenga Olaleye, said the category of taxpayers include self-employed, artisans and professionals residing and those working outside the State.

Olaleye said the provision of the tax law stipulated that “for each year of assessment, a taxable person shall without notice or demand, file in a return of income in the prescribed form, containing the required information with the tax authority of the State, in which the taxable person is deemed to be a resident together with a true and correct statement in writing containing the amount of income from every source in the year preceding the year of assessment”.

He pointed out that the taxpayers were expected to complete and sign an income declaration form, known as Form A and return same to the office of the Executive Chairman, OGIRS or any tax stations closer to them within 90 days from January 1 to March 31, 2021.

The Chairman stated that non-compliance, incorrect filing or false declaration and late submission would attract fines and penalties according to section 94, 95 and 96 of PIT Act.

 

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