On 30th April 2025, Lagos State Internal Revenue Service (LIRS) released a Public Notice to clarify how to operate the 2024 Withholding Tax Regulations within the State. The Notice flows directly from the Deduction of Tax at Source (Withholding) Regulations 2024, issued by Nigeria’s Federal Ministry of Finance which took effect from 1 July 2024. LIRS, empowered under the Personal Income Tax Act (PITA) and the Joint Tax Board’s (JTB) framework, exercises delegated authority to implement those Regulations within Lagos State. While the federal text prescribes baseline rates, exemption rules, and remittance timelines, Lagos is entitled to set administrative specifics such as revenue codes, local deadlines, and enforcement modalities so long as they remain consistent with federal law. The Public Notice therefore functions as a Lagos-specific “operational manual” layered on top of the national Regulations.
LAGOS STATE WITHHOLDING TAX ALERT: AN ANALYSIS OF THE LIRS PUBLIC NOTICE (30TH APRIL 2025)
