Not less than 23,141 defaulters are owing tax liabilities totaling N254 billion. This is according to the Federal Inland Revenue Service (FIRS).
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Disclosing this at the 49thĀ Annual Accountant Conference in Abuja, the agencyāsĀ Executive Chairman, Babatunde Fowler, said theĀ FIRS has recovered over N97.7 billion from tax defaultersĀ since banks placed restrictions on bank accounts of the defaulters.
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Fowlerās word; āAs of today, there are a total of 23,141 tax defaulters who are yet to come forward to clear their outstanding liabilities of about N254bn. The FIRS in collaboration with the banks has started engaging in compliance measuresĀ with regard toĀ the tax defaulters and their accounts.ā
The FIRS boss, however, gave a stern warning to tax defaulters who are yet to fulfill their debt to quickly do so. Fowler added that āfailure to carry out this directive will result in the banks being sanctioned according to Section 31 subsection 1-3 and 32 respectively of the FIRS Act 2007.ā
Prior to this development, theĀ FIRS had published a list of tax defaulters with their different bank accounts it placed under lien for owing taxes. The revenue agency listed not less than 19,901 accounts that were yet to regularize their tax status.
Some of the accounts published belong toĀ CitiroofĀ AluminiumĀ Co. Ltd,Ā ColdstoneĀ Creamery Limited (Yaba),Ā DavidoĀ Music Worldwide Ltd, Grand Square Supermarket and Stores Ltd,Ā IyiolaĀ OmisoreĀ & Par, Open Heavens Bliss Enterprises and The Assemblies of God Nigeria.
Also listed are X3M Music Limited, Tiger Foods Limited, Slot Enterprises,Ā PayporteĀ Technology Limited,Ā VisionscapeĀ Sanitation Solutions Limited, Erisco Foods Limited Milk Cube account, God is Good Motors (Vehicle sales account),Ā HubmartĀ Stores Limited, Obasanjo Farms Nig. Ltd (Feedmill), United Capital Plc, amongst others.
What this means:Ā The tax regulator placed the bank accounts under lien as a result of the failure of the owners to regularize their tax status.
To place a lien on the bank accounts simply means the owners of the accounts may not withdraw or transfer funds from their bank accounts.
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