LIRS Company Registration in Lagos State

LIRS Company Registration in Lagos State

August 04, 2022

A company is required to register for taxes in Nigeria, also individuals, employees, partnerships, and communities pay personal income tax in Nigeria. Personal Income tax is payable to the relevant tax authority. Tax residents in Lagos State usually pay tax to the Lagos State Internal Revenue Service (LIRS). The taxes and other levies payable to LIRS include PAYE tax, withholding tax, business premises levy, development levy. We will however, focus on how to register for tax with the Lagos State Internal Revenue Service. To register your company or business the following steps would be taken:

  1. Search for the nearest LIRS office using the addresses on https://lirs.gov.ng/contact#locate_us
  2. An official application for PAYE tax registration including the response to LIRS questionnaire
  3. A copy of the following documents:
  1. For companies – Memorandum and Articles of Association, Certificate of Incorporation, and Form CAC 1.1 (Status report). Formerly, Form CAC 7 (Particulars of the Company’s Directors) and CAC 2 (Statement of share capital and return of allotment of shares).
  2. For enterprises – Business Name Registration Certificate and Form 1.1. Formerly, Form CAC 7.
  3. Utility bill
  4. Rent agreement
  5. Tax clearance of the directors
  6. Staff payroll
  7. Evidence of payment for development levy
  8. After registration, LIRS will issue a taxpayer ID and the details for remitting tax.

Team 618 Bees

 

618 Bees can quickly and easily help you register your business with the LIRS for taxes. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Lagos State Inland Revenue Service.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.

  • Why is mutual assent important in a contract?

    This is one of the key elements of a contract because is shows the meeting of the minds of both parties

  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • What is data protection?

    Data protection is a legal process of protecting sensitive data.

  • What do I need for a trademark search in Nigeria?

    To do a trademark search you will need the name or/and logo (device) of the trademark to be searched and the Class of the trademark that accurately describes it.

  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office

  • What’s the difference between a business name and an LLC?
    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

  • Will my trademark registration in Nigeria protect me worldwide?

    No, all intellectual property (IP) rights which includes trademarks are territorial, which means you are protected in the countries in which you register them.

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