• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Lagos state deploys automated invoicing system for revenue collection for hospitality sector 

Aghogho Udi by Aghogho Udi
November 20, 2023
in Business News, Tax
LIRS

Chairman of LIRS Mr. Ayodele Subair

Share on FacebookShare on TwitterShare on Linkedin

The Lagos state government through the Lagos State Internal Revenue Service (LIRS) has announced the deployment of an automated invoicing solution for revenue collection in the hospitality industry in the state.  

The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Ayodele Subair, has issued a public notice addressing individuals, operators, and proprietors of hotels, event centres, restaurants, bars, and similar establishments in Lagos State.  

In the notice, he introduced the Eco Fiscal System (EFS), an automated invoicing solution intended to transform the process of collecting consumption taxes in Lagos State.  

RelatedStories

LIRS

We’ve deployed technology to make tax compliance easier, cheaper for taxpayers – LIRS 

January 13, 2025
LIRS

LIRS announces January 31st as deadline for filing tax returns 

January 10, 2024

Subair emphasized that the development of EFS aligns with LIRS’ dedication to enhancing the convenience of tax payments and facilitating compliance with tax laws. 

  • He stated thus, “This technological advancement marks a significant leap in our continuous efforts to enhance revenue collection, streamline processes, and improve efficiency in tax administration. It simplifies compliance and improves accuracy” 

Problems of the previous collection system 

He explained that historically, the collection of HORCT has posed a challenging task for operators, marked by a manual process that frequently resulted in errors, penalties, and escalated costs. However, with LIRS’ state-of-the-art software, businesses can now streamline and digitize their invoicing and collection processes. 

Mr. Subair emphasized that the implementation of the EFS enables businesses to achieve precision in calculations, eliminating the potential for errors often linked with manual data entry.  

The system seamlessly applies applicable tax rates, saving businesses both time and resources. Additionally, he highlighted that the software ensures secure and efficient record-keeping, streamlining audit processes and reducing compliance risks. 

Objective of the new technology 

  • The statement read, “Our goal is to empower businesses with innovative solutions that enhance their operational efficiency and minimize compliance challenges. Businesses can focus on their core operations, leaving the complex task of tax compliance to our reliable and automated system.” 

He further reiterated that the EFS is compatible with a range of e-commerce platforms and can effortlessly integrate with current accounting systems, guaranteeing a seamless implementation process. 

He called on operators in the industry to adhere to the new system as failure to do so amounts to contravention of the relevant regulations guiding the sector and attracts punishment.  

 

 

 


Follow us for Breaking News and Market Intelligence.
Tags: LIRS
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

Related Posts

LIRS
Economy

We’ve deployed technology to make tax compliance easier, cheaper for taxpayers – LIRS 

January 13, 2025
LIRS
Tax

LIRS announces January 31st as deadline for filing tax returns 

January 10, 2024
Revenue: LIRS intensifies efforts in consumption tax collection from businesses
Business News

Revenue: LIRS intensifies efforts in consumption tax collection from businesses

October 3, 2023
Stamp duty is revenue stamp, not postage stamp, LIRS clarifies
Business News

Stamp duty is revenue stamp, not postage stamp, LIRS clarifies

September 25, 2023
Again, LIRS reaffirms March 31 deadline for filing annual tax returns
Business

Again, LIRS reaffirms March 31 deadline for filing annual tax returns

March 10, 2022
LIRS extends filing of Annual Returns for individual taxpayers for two months
Business

LIRS announces January 31 deadline for filing annual tax returns, to impose penalties, sanctions

January 18, 2022
Next Post
Concordium Chairman, Lars Seier Christensen, briefs Nigerian community on EUROe stablecoin  

Concordium Chairman, Lars Seier Christensen, briefs Nigerian community on EUROe stablecoin  

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • Gamsole founder Abiola Olaniran, 36, dies 
  • FG, Femi Otedola deny involvement in FirstHoldCo’s N323 billion share acquisition 
  • Appeal Court prohibits Human Rights Commission from entertaining Oil Spillage Complaints in Nigeria 

Follow us on social media:

Recent News

Gamsole founder Abiola Olaniran, 36, dies 

Gamsole founder Abiola Olaniran, 36, dies 

July 18, 2025
Buy, Sell or Hold – FirstHoldco?

FG, Femi Otedola deny involvement in FirstHoldCo’s N323 billion share acquisition 

July 18, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics