The Lagos State Internal Revenue Service (LIRS) has issued the Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulations 2017 pursuant to section 9 of the Hotel Occupancy and Restaurant Consumption Law empowering LIRS, to issue Regulations for the administration of the Law.
On 10 January 2018, the Regulations were gazetted. The main objective is to enable LIRS efficiently monitor transactions covered under the Law through the use of Electronic Fiscal Device (EFD). Failure to comply with any of the provisions of the regulation may lead to, upon conviction, penalty of 10% of the tax due and interest at 5% above the Minimum Rediscount Rate.
Read more here:
Download PwC Tax Alert_Lagos Consumption Tax (Fiscalisation) Regulation_Feb2018
Download Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulation 2017