The Lagos State Internal Revenue Service (LIRS) has urged owners of restaurants, hotels, and event centres operating in the state to contribute to the state’s development by prioritizing the monthly collection and remittance of a 5% consumption tax on all consumables and personal services. The State on June 22, 2009, enacted the Hotel Occupancy and Restaurant Consumption Law of Lagos State otherwise called Hotel Consumption Law, which imposes consumption tax at 5% on the value of goods and services consumed in hotels, restaurants and event centers within the state. The…
Read MoreLIRS TASKS BUSINESS ORGANISATIONS ON CONSUMPTION TAX COMPLIANCE
