Business
Lagos Recovers N23m Tax Debt
The Lagos Internal Revenue Service (LIRS) has stepped up its enforcement exercise in the state recovering more than N23 million tax debt owed the state government by some companies operating in the state.
This was the fall out of a two-day enforcement exercise led by Mrs Tolashade Afolayan, head, revenue authority that also the sanctioning of six companies for failing to comply with their tax obligations receiving into millions of naira.
Afolayan noted that while the law has provided ample opportunity for companies to settle their taxes with the state government conveniently, the state government should not at any sanction meted on any defaulting companies.
According to her, the board has done so much in making tax compliance in the state as easier as it could be, noting that every tax payer either individual, corporate now has the opportunity of getting all necessary information and assistance in the state given the open do or policy now operated by the LIRS.
LIRS, she said would continue to work within the ambiance of the state tax policy which is to improve the quality of life in the state by maximising revenue potential of the state economy without imposing an excessive burden on tax payers.
The Corporate Affairs Department of LIRS said the management has been working to ensure the creation of efficient, objective and people friendly structure for tax and revenue administration at all levels and in all department of government as well as working with the relevant agencies and authorities in eliminating all incidence of illegal levies, touting, corruption intimidation and other exploitative practices.
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