July 7, 2020
The Lagos State Internal Revenue Service (“LIRS” or “the Service”) recently issued a Public Notice, advising taxpayers and the general public of modifications made to the process for conducting Tax Audit and Reconciliation Committee (“TARC” or “the Committee”) meetings in view of the challenges posed by the COVID-19 Pandemic.
The Public Notice cites the provisions of Section 29 of the Finance Act, 2019 which affirms the admissibility of electronic delivery of correspondences and also the Advisory and other Protocols on Public Health and Safety issued by the Federal and Lagos State Governments as its basis.
According to the Notice, the following modifications will be applicable to TARC meeting procedures going forward:
The issuance of this Public Notice by the Service is commendable as it mirrors the protocols on health and safety issued by the Federal and State Government and also makes for continuity of the LIRS’ operations.
Based on the public notice, it is important for taxpayers to adhere to physical distancing and advisories on virtual meetings given the overriding health concerns and also engage their tax consultants to ensure proper guidance and compliance with the law in doing so.