- March 27, 2025
- Posted by: admin
- Category: Resources
As the March 31, 2025, deadline for filing annual tax returns for individual approaches, employers have a unique opportunity to support their employees in fulfilling their tax obligations while ensuring compliance with Lagos State Internal Revenue Service (LIRS) regulations.
At FSC Professional, we specialize in guiding businesses through this process, providing expert tax advisory services that benefit both employers and employees.
Understanding Employer Obligations Under LIRS Guidelines
LIRS mandates that all employers must:
- Deduct Pay-As-You-Earn (PAYE) tax from employees’ salaries and remit it monthly.
- File an Annual Tax Return with details of all employees and their taxable income for the year by March 31, 2025.
- Provide employees with tax clearance certificates (TCCs) upon request, which are necessary for obtaining visas, government contracts, and loans.
- Ensure full compliance to avoid penalties for non-filing or underpayment of taxes.
How FSC Professional Helps Employers
We provide a structured approach to tax compliance, ensuring that your business meets all LIRS requirements efficiently and accurately:
- Payroll Tax Audit & Compliance Review
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- We assess your payroll records to ensure accurate PAYE deductions and remittances.
- Identify potential errors and correct any discrepancies before submission.
- Annual Tax Return Filing (Form H1)
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- Prepare and submit detailed tax filings on behalf of your organization.
- Ensure all employee earnings and deductions are properly documented.
- Employee Tax Education & Support
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- Provide workshops or one-on-one sessions to educate employees on their tax obligations.
- Assist employees in obtaining their tax clearance certificates (TCCs).
- Tax Optimization Strategies for Employers
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- Advise on tax-efficient salary structures, allowances, and benefits to minimize liabilities.
- Help employers maximize available tax incentives and deductions.
Why Employers Should Choose FSC Professional
By outsourcing your tax filing to FSC Professional, your company gains:
- Regulatory Compliance: Avoid fines and legal issues by ensuring accurate and timely tax submissions.
- Time & Resource Savings: Focus on your core business while we handle all tax-related documentation.
- Enhanced Employee Satisfaction: Empower employees with tax guidance and ensure they receive their TCCs without hassle.
- Risk Mitigation: Our expertise ensures error-free filings, reducing the risk of audits or disputes with LIRS.
Act Now – Avoid Last-Minute Rush!
Don’t wait until the deadline approaches. Let FSC Professional manage your company’s tax obligations while you focus on business growth. Contact us today to ensure a smooth and compliant tax filing process.