In pursuance of S.81(2) of Personal Income Tax 104 of 2004 (as amended), all employers of labour in the state are required to forward herewith 2016 Employer’s Annual Return in both hard and soft copies. The returns are expected to reach office of the Executive Chairman, KW-IRS on or before 31st of January, 2016.
The returns are expected to be in line with the following:
- PAYE Annual Returns should show serial number, name of each employee, annual salary and its component, free pay allowance allowed, number of month worked, tax deducted and tax remitted.
- Withholding Tax Annual Returns (including contract, rent, dividends, etc) are to show name of the beneficiary/contractor, address, type and value of dealings, address of property (rent only), WHT rate applied, WHT deducted, WHT remitted, Remark.
- Development Levy Annual Returns of N100 per employee.
- Summary of Monthly Remittances of I, II and III above should be in the below format.
SUMMARY OF REMITTANCES
S/N MONTH AMOUNT (N) PERIOD PAYMENT DATE RECEIPT NUMBER 1. JANUARY
- The returns are to include the following documents:
- Photocopies of automated revenue receipts on PAYE, WHT and development levies.
- Expatriate quota (if applicable).
- Immigration returns of expatriate(s).
- Nominal roll of the organization in both hard and soft copies showing name of the employee, designation/position, rank, grade level, gross pay and tax paid in the year under reference.
- All employers of labour in the State should note that failure to file the returns at the close of business on Sunday 31st January, 2016 is contravention of the provision of the S.81(3) of Personal Income Tax Act under reference and shall be liable to a penalty of N500,000.00 in the case of a body corporate, and N50,000.00 in the case of an individual.
The returns, item V above and any other related documents are to be submitted to the office of the Executive Chairman at our Corporate Head Office.
For further enquires:
Call our toll free number 0700MYKWIRS (07006959477)
E-mail us at email@example.com
Visit the office of the Executive Chairman or Director Assessment & Tax Audit at our Corporate Head Office, 27 Ahmadu Bello Way, Ilorin, Kwara State.
Muritala Awodun, PhD