Business
Lagos Seals 30 Coys Over Tax Evasion
Thirty companies were sealed in July by the Lagos State Internal Revenue Service (LIRS) over tax evasion.
The Head of the enforcement team, Mrs Afolashade Afolayan, made the disclosure in an interview with the newsmen recently in Lagos.
She said that the companies’ tax liability at the time of their sealing stood at over N289.9 million.
Afolayan said that companies normally refused to comply with directives to remit tax liabilities to the State Government even after deducting such money from staff salaries.
She said that tax liabilities owed by the companies varied from one another since they were recorded from 2000 to 2008.
“Several notices and correspondences had been sent to the companies asking them to pay their outstanding taxes but to no avail,” she said.
Afolayan said that some companies deliberately refused to remit their tax outstanding to the state’s coffers in spite of efforts by the state in ensuring that due process and enlightenment carried out.
“It is a criminal offence to evade taxes, henceforth anybody found guilty of this will face the law.
”Several notices and invitations have been duly served to intimate them of their tax liabilities before embarking on sealing off of their offices but they refused to yield to any on it,” she said.
She said that if tax payers refused to remit voluntarily, the enforcement team would have no option than to seal off the premises of such defaulting companies.
She, however, commended some companies for complying with the state’s tax laws.
Afolayan advised tax payer, both corporate organisations and individuals, to pay up their outstanding taxes on time to avoid being sealed.
She cited Section 40 sub-section 1 and 2 of the Lagos State Revenue Administration Law which backed the actions of the tax authourity.
“The Internal Revenue Service or other relevant revenue authority may for the purpose of enforcing payment of the amount due, distrain upon the goods, chattels or other properties movable or immovable, of the person liable to pay the tax outstanding; and upon all machinery, plant, tools, vehicles, animals and effects in the possession, use or found on the premises or on the land of the person.”
It would be recalls that in May 2010, the Lagos State Government said it recovered about N20 billion un-remitted taxes from defaulters last year.
Mr Babatunde Fowler, the Chairman, Lagos State Internal Revenue Service (LIRS) at a presentation said the government closed about 250 companies last year, following a breakdown in discussions over tax.
Fowler disclosed that government also resolved out of court, many cases of tax evasion and non-remittance, while some defaulters were prosecuted.
Business
Boat Mishap Kills Pastor, Wife And Church Members In Brass Water
Business
Rivers Workers Seek Scrapping Of Contributory Pension Scheme
Business
FG Begins South-West Tour To Promote New Cooperative Bank
-
Editorial21 hours agoEnough Of Xenophobic Attacks On Nigerians
-
Nation20 hours agoRSU, Otonti Nduka Foundation Hold Centenary Conference, Unveil Book on Values in Nigeria
-
Oil & Energy21 hours agoRivers PETROAN Elects 12-Member Executive
-
Environment22 hours agoMOSOP – Tinubu Not Sincere With Ogoni People For Oil Resumption
-
News1 day agoFubara, Wife Hail Tinubu’s Renewed Hope Initiative …As Over 6,800 Families Benefit From Largesse In Rivers
-
Politics22 hours ago
APC Group Protests Ex–Presidential Aspirant’s Disqualification From Rivers Senatorial Race
-
Politics22 hours ago
Reps Speaker Secures APC Return Ticket For Fifth Term
-
Maritime24 hours agoProducts, Others, To Arrive Lagos Ports Today — MPA
