Lagos Closes 16 Companies Over N126.19million Tax Evasion

Lagos Closes 16 Companies Over N126.19million Tax Evasion

 

The Lagos State Internal Revenue Service (LIRS) on Friday announced that it had closed 16 companies in the state over alleged failure to remit about N126.19m consumption tax. The organization’s Director of Legal Services, Seyi Alade, told newsmen in Lagos that the companies’ tax liabilities were from 2014 to 2016. Alade, who spoke with newsmen during LIRS state-wide tax law enforcement exercise, added that the companies were audited for the periods, but had not made the payments to the State Government.

 

According to him, the 16 companies have been closed down and prohibited from operation until they paid the taxes for the period. He said that four companies that admitted their tax liabilities made their payments and an additional payment of N100,000 each as distress cost to LIRS. Alade called on companies and taxpayers in the state to update their tax payments and obligations to avert disruption of their operations and additional distress cost.

 

According to him, the LIRS has made tax compliance very easy for the taxpayers through its recent launch of the Electronic Tax platform. Alade urged taxpayers to make use of this platform for their comfort and ease of compliance with their various tax obligations.

 

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