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Wednesday, 18 December 2019

Federal Inland Revenue Service (FIRS) Gives 7-Days Notice To Tax Defaulters

The Federal Inland Revenue Service (FIRS), has served a 7-day notice to tax defaulters, with a warning that it will soon begin a nationwide tax enforcement to bring defaulters to book.

The notice was contained in a statement signed by Wahab Gbadamosi, FIRS' Head of Communication and Servicom.The statement quoted the Acting Executive Chairman of FIRS, Abiodun Aina, as saying that the Service has concluded plans to begin tax enforcement against defaulters should they continue to fail in fulfilling their tax obligations.

He advised tax defaulters to settle their tax liabilities within seven days of the publication of a notification  to avoid any inconveniences or interruptions in their operations.

"The FIRS hereby informs all taxpayers (individuals, partnerships, Enterprises,
Corporate organisations, Ministries, Departments and Agencies) who are in default of payment of taxes arising from self-assessment, tax
audit, tax investigation, transfer pricing audit, demand notices and
any other liabilities, that the Service will commence a nationwide tax enforcement exercise from 18 December, with a view to prosecuting defaulters and recovering all outstanding tax
liabilities,” the statement read.
Aina said the enforcement is pursuant to the provisions of Section 8, 26 (2), 33 and 35 of the Federal Inland Revenue Service (Establishment Act, 2007).

The taxes covered by the enforcement are referred Petroleum Profits Tax, Companies Income Tax, Value Added Tax, Withholding Tax,Tertiary Education Tax, NITDA Levy, Stamp Duty and Capital Gains Tax.

“All taxpayers are therefore strongly advised to settle their tax liabilities within seven days of the notice to avoid any inconveniences or interruptions in your operations,” said Aina.

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