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FIRS probes six firms over N2.4bn tax liabilities

By on October 23, 2014

For failing to remit tax revenue amounting to N2.4bn, the Federal Inland Revenue Service has quizzed top officials of six companies operating in Lagos.

The companies and their outstanding tax liabilities, according to the FIRS, are Leaders and Company Limited, N228.5m; Lottoj Oil and Gas Limited, N14.4m; First Deep Water Limited, N63.1m; Tonique Oil Services Limited, N27.79m; Tak Continental Limited, N960.2m; and Alliance and General Insurance, N1.13bn.

The FIRS, in a statement on Tuesday, said officials of the companies were not only quizzed for failing to remit their outstanding tax liabilities, but had also not file their tax returns as required by law.

The organisation had on October 3, 2014 in Lagos embarked on a similar tax recovery exercise against Baker Hughes, Line Trale, Tecon Oil and Heyden Petroleum, all operating in the oil and gas industry.

It will be recall that the Executive Chairman of the FIRS, Alhaji Kabir Mashi, had said at the regional enlarged management meeting of the organisation in Ibadan in September that it would be compelled to invoke relevant laws against recalcitrant taxpayers.

The statement noted that the recent enforcement exercise in Lagos was led by the Head of Debt Enforcement and Special Prosecution Unit, Mrs. Anita Erinn.

It said the exercise became necessary following the companies’ refusal to respond to notices and letters of reminders to fulfil their tax obligations.

Erinn said the exercise was aimed at recovering arrears of taxes accruing to government from Company Income Tax, Education Tax, Withholding Tax and Value Added Tax as well as compelling the companies to file their annual tax returns.

She said the top officials of the companies were still being questioned by the special purpose tax officials at the FIRS office in Lagos.

 

[Punch]