N50m Tax Evasion: LIRS shuts six companies


Governor Akinwunmi Ambode of Lagos State
The Lagos State Internal Revenue Service (LIRS) on Thursday sealed up six companies for non remittance of taxes due to the state government totaling over N50million.
The defaulting companies (Nicon Town Management Company with a tax liability of N36,053,652.89, Marketing Mix and Company Limited with a liability of N10,712,914.15, Hope Valley International Clinic with a liability of 2,389,885.28, BEC Consultants Nigeria Limited with a tax liability of N792,563.47, Goldmine Global Services Limited owing N505,812.73 and Brown Brommel Limited with a liability of N368,159.63) owed the Lagos State Government money for periods ranging from one to five years (2007 to 2012).
A statement signed by the Executive Chairman of LIRS, Mr Olufolarin Ogunsanwo, said the companies were sealed in pursuant to the provisions of Section 104 of the Personal Income Tax Act 2004 LFN (as amended in 2011) and will not be re-opened for business until all unremitted taxes are paid to the State Government.
He also warned defaulting companies, especially employers of labour that the State Governor, Mr Akinwunmi Ambode has zero tolerance for tax evasion, adding that LIRS is set to begin criminal prosecution of all tax defaulters in Lagos State to ensure that culprits are made to face the full wrath of the law.
The LIRS boss said that under the Personal Income Tax Act, a taxable person is statutorily required to file a return of income for the preceding year at the expiration of 90days from the commencement of every year of assessment, whilst any employer of labour is required to file all emoluments paid to its employees for the preceding year, not later than 31st of January each year.
“In addition to that, employers will also be required to furnish the LIRS with the salary projection of all staff for the current year. The implication …Read More

Source:: PM Newspaper