Tax Dafault: FIRS Takes Over Account of Obasanjo Farms Account, Others

  • FIRS reveals guidelines of repossessing account to the tax defaulters

In a bid to recover tax from defaulters, the Federal Inland Revenue Service (FIRS) has taken possession of the bank accounts of over 19,000 and vowed to keep the accounts under its possession until they regularise their tax status.

It could be recalled that the FIRS had been accused of not doing enough to generate revenue.

The  tax revenue body has now gone ahead to publish the names of tax defaulters with advice to the tax defaulters to come along with some documents before the Service can release their bank accounts.

READ: FIRS Exploits Is Revolutionising Tax Collection in Nigeria – NFIU

Some of the companies whose accounts have been taken over or placed under lien include Obasanjo Farms Nig. Ltd (Feedmill); Iyiola Omisore & Par; Citiroof Aluminium Co. Ltd; Coldstone Creamery Limited (Yaba); Davido Music Worldwide Ltd; Grand Square Supermarket and Stores Ltd; Open Heavens Bliss Enterprises; The Assemblies of God Nigeria; X3M Music Limited.

Others included are Tiger Foods Limited; Slot Enterprises; Payporte Technology Limited; Visionscape Sanitation Solutions Limited; Erisco Foods Limited Milk Cube account; God is Good Motors (Vehicle sales account); Hubmart Stores Limited and United Capital Plc among many others

The FIRS has urged the tax defaulters to take make payments of applicable taxes for the period owed in order to regularize their tax status.

To lift the lien on the business accounts, the FIRS urged the tax defaulters to visit the closest Substitution Review Unit (SRU) to: a) Fill Taxpayers form as required; Attach evidence of tax payments made alongside the a letter to the ECFIRS on response to the substitution on their account and attach to the letter a copy of their last file return; Copy of current tax clearance certificate; Bank statement for 3 years; Copy of incorporation and commencement of business.

READ: Nigeria will rank among the top 100 countries on World Business Index by 2020 — Osinbajo

The also advised tax defaulters to state Sources of income. If it’s a loan outfit, or operate Bureau de Change, the SRU team will analyse and give feedback or in the alternative, the defaulters should “send the details to [email protected]

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