FIRS recovers N248m from 4 companies in Lagos

FIRSLAGOS – The nation’s tax drive has been boosted by more than N248 million following  an aggressive drive by the Federal Inland Revenue Service (FIRS) in Lagos State.

The FIRS carried out the tax-drive in Baker Hughes, Line Trale, Tecon Oil and Heyden Petroleum, all operating in Lagos State.

At Baker Hughes, the Company Secretary, Mr Gbenga Biobaku, made a commitment to pay N50 million.

Biobaku also promised to visit the FIRS office in Lagos to reconcile the outstanding debts.

Some senior members of the Line Trale Company also pledged to visit the FIRS office with their managing partners to clear their outstanding tax.

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Also, some senior members of Tecon Oil, an industry services provider, after some arguments with FIRS officials, made a N50 million payment commitment.

Heyden Petroleum Company also made a payment commitment of N15 million to FIRS.

Meanwhile, Mrs Olaitan Adediran, FIRS Director, Large Tax Department, said one of the companies listed in the tax drive had earlier paid N148 million.

“One of the companies went to make payment of N148 million when we called them to say we were coming for the purpose of enforcement and will seal their company premises,” she said.

The director also confirmed that another company had promised to pay N70 million after the holiday.

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She said that the enforcement drive yielded some positive responses because some of the companies had cause to sign payment agreements with FIRS. [eap_ad_2] She said that that the enforcement exercise would not have been necessary if the defaulting companies had paid their taxes as at when due.

“If a company is filing its returns as and when due and paying its taxes on due dates, enforcement will not be necessary.

“Companies have obligations to file their returns on due dates six months after the year ends and they had prepared their accounts,” she said.

NAN reports that defaulting companies’ representatives who came to keep their appointments with the FIRS were counselled on how to comply with the regulations.

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The FIRS also told them that as long as the tax liabilities remained unpaid, it would continue to attract penalties and interests.

Adediran promised that the tax recovery team would continue the exercise to ensure that government received what was due to it through taxes. (NAN) [eap_ad_3]

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