Friday, 13 May 2016

FIRS: Jimoh Ibrahim’s firms owe N575m in taxes

The Federal Inland Revenue Service (FIRS) says Nicon Luxury Hotel, owned by Jimoh Ibrahim, a Nigerian businessman, is currently defaulting in unpaid tax liabilities, to the tune of N392,623,765.
The agency also said Nicon Insurance has N182,685, 036 million in unremitted withholding tax and (Value Added Tax) VAT from 2008 to 2012.
In a statement released on Thursday, FIRS said it sealed companies in Lagos, Abuja, Owerri and Kaduna in continuation of its efforts to arrest the growing incidence of non-remittance.
In Lagos, the FIRS sealed the premises of Swift Networks, an internet provider, and Pan Ocean Oil Corporation Nigeria Limited, for failing to remit huge amounts in VAT.
“Swift Networks, which has its office on 31, Saka Tinubu Street, Victoria Island, Lagos, failed to remit N702 million to the government. It’s office was sealed by FIRS officials  led by the Director of Enforcement, Emeka, Obiagwu,” FIRS said.
FIRS said several notices have been served on  the companies and several moves were also made to compel the companies to remit their taxes, but most of these companies turn deaf ears.
“At the office of Pan Ocean Oil Corporation, the enforcement recorded some drama, with the company’s security men attempting to prevent FIRS officials from carrying out their duty,” it added.

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