FIRS Shuts Four Firms Over N630m Tax Debt

Evaluation of Public Accountability and Tax Culture among Tax Payers in Nigeria
  • FIRS Shuts Four Firms Over N630m Tax Debt

The Federal Inland Revenue Service on Monday sealed off four companies in Lagos and Port Harcourt over their alleged failure to meet their tax obligations totalling N630m.

The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt, and Cioscon Nigerian Limited, Aba Road, Port Harcourt.

The leader of the FIRS enforcement team, Mrs. Anita Erinne, sealed both companies after showing warrants to officials of the firms.

Charcoal and Spices Restaurant Limited allegedly owed N12,388,979.50, while Cioscon was said to have a tax liability amounting to N479,203,464.43 from 2014 to 2016, which the firm had allegedly failed to remit.

Erinne told the defaulting firms that their premises would be unsealed when they clear their outstanding tax bills.

She warned the workers not to tamper with the FIRS seal until the debts were cleared, stating that any attempt to remove the seals would be a contravention of the law.

Erinne, however, noted that the firms had been officially notified of their indebtedness to the FIRS, stating that all the taxes should be paid before their premises could be reopened.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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