The chairman of the Ekiti State Internal Revenue Service(EKIRS) has warned eligible taxpayers in Ekiti State to file their annual tax returns by March 31, 2026, or risk legal penalties.
Speaking on Ekiti Loni /Ekiti Today,a simulcast radio program in Ado- Ekiti on Thursday, the Ekiti IRS Executive chairman, Olaniran Olatona, said the deadline applies to both individuals and corporate entities as required by law.
Mr. Olatona said timely filing would enable the revenue service to properly assess the tax obligations of individuals and businesses operating in the state.
He also disclosed that special courts had been established to prosecute tax-related offenses, including failure to file annual returns, tax evasion, non-disclosure of relevant tax information and harassment of revenue officials.
Despite concerns that recent tax reforms might reduce revenue, Mr. Olatona said collections in the state had remained stable.
According to him, the agency prevented a possible drop in revenue through early planning, expanded taxpayer education and increased efforts to bring more eligible residents and businesses into the tax system.
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He added that the state currently generates about 2.4 billion naira monthly in revenue but has the capacity to earn more.
Still, Mr. Olatona said the agency was not seeking to increase the burden on taxpayers.
“Our focus is to make Ekiti more business-friendly,” he said, adding that stronger businesses would ultimately translate into higher revenue for the state government.