END OF YEAR TAX RETURNS
PAYE, WITHHOLDING TAX AND DEVELOPMENT LEVY RETURNS
ne with the provisions of the Personal Income Tax Act Cap.81 LFN 2004 (as amended), you are expected to render to Osun Internal Revenue Service (OIRS) in respect of the following:
1) PAY AS YOU EARN OF THE YEAR RETURNS
As Employer of Labour in Osun State and pursuant section 81 (2) Personal Income Tax (as amended), you are required to render returns of all emoluments paid to your employees not later than 31st January of every year in respect of all employees in your employment in the preceding year. Specifically, section 81 (2) PITA (as amended) states that:
“Every employer shall be required to file a return with the relevant authority of all 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”
Employers are to note that section 81 (3) of PITA provides that:
“Any employer who contravenes the provision of this section shall be liable on conviction to penalty ₦500,000 in the case of a body corporate ₦50,000 in the case of individual”.
• A separate return should be prepared for expatriates please
2) WITHHOLDING TAX (WHT)
You have an obligation under section 69,70,71 and 72 of Personal Income Tax Act to deduct Tax using rate at source before payment of dividend, interest, Rent, Director’s Fees, Professional Fees, Contract and Royalty. The amount deducted must be paid to the Osun State Government within 30days from the date the amount was deducted.
- Submission can be done using the form on the right
- Completed MS Excel forms can be mailed to firstname.lastname@example.org
- Physical submissions should be forwarded to OIRS, Omoluabi Holdings Building, Adjacent NNPC, Abere, Osun State with soft copies in a Flash or CD
Click here to download the Annual Returns Template
PLEASE NOTE THAT ONLY MS EXCEL FILES ARE ACCEPTED AS ATTACHMENTS.