Business
Tax Tribunal Warns FIRS Against Delaying Proceedings
The Tax Appeal Tribunal sitting in Abuja warned the Federal Inland Revenue Service against delaying the proceedings before it.
The Acting Chairman of the tribunal, Mr Jude Rex-Ogbuku, gave the warning in a N596.4 million tax dispute filed against FIRS by the British America Marketing Nigeria Limited.
Rex-Ogbuku warned that the court would not tolerate any other waste of time in the case. The company had dragged the FIRS before the tribunal for refusing to amend its tax assessment of N596.4 million for 2005. The amount is made up of N556.4 million Corporate Income Tax (CIT) and N40.9million Education Tax.
He said FIRS told the tribunal in November 2012 that the process of settling the dispute was at an advanced stage hence the case was adjourned for report of the settlement. Rex-Ogbuku said the tribunal could not be held to ransom by the inability of the FIRS management to resolve the matter.
He urged both parties to prepare their witnesses for continuation of hearing if the report of settlement was not ready before next hearing.
The chairman, therefore, adjourned the case to February 4, for report of settlement or continuation of hearing. Mr Bright Igbinosa, the FIRS Counsel, had told the tribunal that the settlement process had been sent to the FIRS management and that “there was a serious talk between both parties’’.
He said the appellant had made a serious offer but that the management of the FIRS had yet to meet. Mr Audu Ibrahim, appellants’ Counsel, also said there had been discussion between them and that the company made serious offer.