Sitting at the heart of Ikeja, the Lagos State Internal Revenue Service (LIRS) is saddled with the responsibility of collecting tax revenue and other levies for the Lagos State government. So far you have registered your business in Lagos, then it is expected by law to pay certain taxes to the Lagos State government, hence, the need for registration with the Lagos State Internal Revenue Service.
In effect, as long as you have registered your business ( whether you are a sole proprietor or a Limited Liability Company) using a Lagos address (address of domicile) then your next steps should be at the Lagos State Internal Revenue office with requests to register for tax.
The Lagos State Internal Revenue Service was set up majorly to reduce dependence on the Federal Government allocation by setting up a unique system of tax assessment and revenue generation independent of the Federal government interference.
Presently headed by a Chairman of the Lagos State Internal Revenue Service, it is suffice to say that the Service has set the pace with respect to State tax collections and is now a focal point for other states to emulate the tax structure and system. Recently, the LIRS added a unique feather to its cap by setting up Self-Assessment filing system for individual tax payers and has continued to make itself a forerunner in the manner at which tax structures are put in place for revenue generation for Lagos State. These effective structures have resulted into huge income from tax for the state government. In the last 10 years, the Internally generated revenue (IGR) in Lagos State has moved from a paltry 600 million in 1999 to a staggering 20 billion in recent years. What an amazing turn around that has been for Lagos State.
Do you know that the Lagos State Internal Revenue Service upped the ante for revenue collections across all States by erasing the old way of paper processing of tax clearance certificates with the new efficient and electronic way known as e-TCC? That is one among the numerous initiatives implemented by the Lagos State Internal Revenue Service.