Delta State employers and self-employed persons have been allowed until January 31, and March 31, 2024, respectively, to voluntarily file their yearly tax returns for the year 2023 in accordance with the Personal Income Tax Act of 2004, as amended.
According to The PUNCH, this was said in a statement published on Monday by the Executive Chairman of the Delta State Internal Revenue Service, Mr. Solomon Ighrakpata.
The notification, which reminded impacted taxpayers of their legal obligations, said that Section 81(2) of the Personal Income Tax Act 2004, as amended, requires all employers of labour to file a return with the relevant tax authorities detailing any emoluments paid to its employees not later than 31st January of every year in respect of all employees in its employment in the preceding year.
“Taxpayers should be aware that contravention of this law carries a penalty of five hundred thousand naira in the case of a corporate body, or fifty thousand naira in the case of an individual.
“As part of measures to simplify the state’s tax administration process, tax administration would be fully automated by the end of the first quarter of 2024. In keeping with this, he stated that annual tax returns would henceforth be filed online.
The Chairman further recommended taxpayers to access their self-service sites or portals via the internet, where additional information on how to access and interact with the Revenue Service is available.
He stated that Annual Tax Returns, which should be filed online, should include information on Pay As You Earn payments from January to December 2023; documentation of directors’ tax payments from 2021, 2022, and 2023; and copies of withholding tax receipts from January to December 2023.
Other requirements include proof of payment of Business Premises/Renewal for the year 2023, proof of payment of development levy for the year 2023, a copy of the lease agreement and rent receipts for office space leased, and salary payroll forecasts for the year 2024.
