Home » LIRS shuts 34 firms over tax debts

LIRS shuts 34 firms over tax debts

by John Ojewale
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The Lagos State Internal Revenue Service, or LIRS, said that it had closed 34 business entities for neglecting to pay personal income taxes of its staff members and for failing to pay consumption taxes to the Lagos State Government by hotel industry operators.

Among the businesses impacted are Kurioucity Ltd., Medilag Ventures Ltd., Future Oilfields, Avaya Nigeria Ltd., NTS Nigeria Ltd., Med-In Hospital & Pharma Services Ltd., Danvic Petroleum Int’l Ltd., Business Intelligence Technology, and Gladstone Tech Ltd.

In the course of the operation, 23 lodging establishments, dining establishments, and event venues were shut down for neglecting to withhold and submit consumption taxes.

During a state-wide tax law enforcement exercise held in Lagos by the Service, Mr. Seyi Alade, Director of Legal Services at LIRS, revealed that the combined tax obligations of these hotels and corporations exceeded N356.12 million.

“These companies deduct Personal Income Taxes from their employees’ salaries at the end of each month, and charge consumption taxes on goods and services purchased by customers.

“Unfortunately, some unpatriotic firms choose to withhold these payments, illegally converting the funds for their use,” Mr. Alade said.

He issued a warning, saying that the enforcement action “shall be a continuous one and it shall be visited on all erring companies, hotels, restaurants, and individuals in the state if they refuse to regularise their tax positions immediately or if they fail to comply with all extant tax laws operational in Lagos State.”







cc: Vanguard Ng

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