LIRS introduces upgraded revenue collection process for hospitality industry | Guardian Nigeria News

The Lagos State Internal Revenue Service (LIRS) has announced the immediate implementation of an upgraded process for the collection of Hotel Occupancy Charges and Restaurant Excise Tax (HORCT) in the state.

LIRS Executive Chairman Ayodele Subair, in a public notice addressed to the general public, operators and owners of hotels, event centres, restaurants, bars and other related establishments in Lagos State, announced the new collection process called Ecofiscal. I talked about this. System (EFS) is an automated billing solution designed to revolutionize sales tax collection in Lagos State.

He said the evolution of EFS furthers LIRS’ commitment to embed convenience in tax payments and ease compliance with tax laws.

Subair said that by adopting EFS, companies can ensure accurate calculations and eliminate the risk of errors associated with manual data entry.

According to him, the system automatically applies the relevant tax rates, saving companies valuable time and resources. He added that the software provides secure and efficient record-keeping, simplifies audits and minimizes compliance risks.

“Our goal is to help businesses with innovative solutions that increase operational efficiency and minimize compliance challenges. “We can focus on our core business,” he said.

He therefore ordered all operators in the hospitality industry to adopt the EFS and to prohibit their operations on the system as non-compliance would violate the provisions of Articles 7(1), 8 and 9 of the Hotel Occupancy Regulations. We emphasized that it is effective immediately. 2017 Restaurant Consumption Financialization Regulations. The penalties set out in Section 11(2) of the HORC Act 2009 apply.

Subair reiterated that EFS is compatible with various e-commerce platforms and can be seamlessly integrated with existing accounting systems, ensuring a smooth implementation process.

He promised that LIRS staff would visit hospitality industry facilities to integrate the software with existing systems and provide the necessary assistance for a seamless transition to the EFS platform.

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