LIRS introduces electronic revenue system for hospitality centers

Lagos Internal Revenue Service (LIRS) has introduced an Electronic Revenue Assurance (ERA) system for hotels, restaurants, night clubs and event centres in Lagos State.

The move is to ensure the automatic compliance with the extant hotel occupancy and restaurant consumption tax law of Lagos state as amended.

The law imposes a five per cent consumption tax on all expenditures made on products and services at the hospitality outlets in line with Section 2 of the Hotel Occupancy and Restaurant Consumption Law of June 2009.

To protect consumers, payments and receipts generated will be tracked and monitored to verify the authenticity of receipts issued.

Speaking on how the newly adopted technology works, Chairman of the LIRS, Ayodele Subair, stated that the Electronic Revenue Assurance System using the Electronic Fiscal Device (EFD) is a software application/device that issues invoices and receipts to consumers bearing a unique QR code, detailing the items and/or services ordered and an embedded automation of Consumption Tax remittance in real time.

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