They are required to submit their Pay As You Earn (PAYE) tax returns for the year 2023 on or before January 31, 2024.

In a statement released in Abeokuta on Wednesday, Mr. Olugbenga Olaleye, the Executive Chairman of the Ogun State Internal Revenue Service, emphasized that failure to comply with this directive would result in a penalty.

He explained that employers of labor and employees living in the state must file their 2023 PAYE tax returns by the 31st day of January and not doing so would lead to a penalty of N5,000.

“In line with the provision of section 81(1-3) of Personal Income Tax Act, 2011 as amended and paragraph 10 of 2002 PAYE Regulations, all employers of labour with employees resident in Ogun State both corporate and private organisations are statutorily obliged to file their PAYE Tax Returns for 2023 on or before 31st January 2024. Failure to do so would attract a penalty upon conviction,” he said.

Olaleye urged them to do the needful by logging in with their login credentials as existing tax agents on the agency’s website, “While tax agents who are yet to register are expected to register on the website by supplying required information to obtain login details in their registered email.”