By Dennis Agbo
The United Bank for Africa, UBA, has floored the Anambra State Internal Revenue Service, AiRS, in the bank’s appeal seeking to nullify the N473,315,327 Withholding Tax, WHT, remittance the state government issued to the bank in 2018.
AiRS had issued assessment and demand notice on the UBA asking the bank to remit the above mentioned amount as Withholding Tax remittance liability for 2015, 2016 and 2017 tax years.
The state tax agency equally refused to amend the tax assessment as demanded by the bank, but rather issued the bank a notice of refusal to amend the assessment, insisting that the bank paid the sum as it demanded.
Dissatisfied with both the assessment and refusal to amend notice, UBA in 2019 approached the Tax Appeal Tribunal where it among other reliefs, asked the tribunal to invalidate the assessment for arbitrariness and lack of legal support.
The bank also prayed the tribunal to set aside the demand and amendment refusal notices, arguing that…
Source: Vanguard Newspaper