Filing of PAYE for employers of labour is a seasonal exercise. It comes in the first month of every year. Employers of labour are mandated by section 81 of the Personal Income Tax Act (PITA) to file annual returns which contains the income paid to their employees, PAYE deducted and remitted to the relevant tax authorities on behalf of the employees in an assessment year. In this piece we would review the PAYE returns filing process as this is what is required first before the PIT filing returns.

1.         What is PAYE Returns?

PAYE Returns detail all emoluments paid to, and statutory deductions made, on behalf of all employees (whether or not they are still in your employment) in the calendar year January 1, 2022, to December 31, 2022, as well as taxes that were remitted to the Relevant Tax Authority in respect of the employees that were resident within their jurisdiction.

2.         What is the Penalty If I Fail to File PAYE Returns on Behalf of My Employees?

Failure to comply with the requirement to file PAYE Returns by the due date attracts a penalty of N500,000.00 (Five Hundred Thousand Naira) for corporate bodies and N50,000.00 (Fifty Thousand Naira) for individuals and/or an imprisonment term of six months in the event of default of payment.

3.         When is the deadline for Filing the 2019 PAYE Returns?

The deadline for filing the 2022 PAYE Returns is on Tuesday, 31st January, 2023.

4.         Where can I get help with Filing PAYE Returns with the Relevant Tax Authority?

The Chartered Institute of Taxation of Nigeria (CITN) currently has in excess of 1,000 chartered or licensed tax practitioners who are able to assist with PAYE compliance requirements. Taxaide®’s Professional Personnel are among such licensed tax practitioners.

For more information on PAYE AND PIT Returns Filing and all tax-related issues, please do not hesitate to contact us 0700TAXAIDE.

Let’s have a Tax-Efficient 2023!

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