Connect with us

Business

FCT-IRS seals school, companies over tax evasion

Published

on

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has sealed a hotel, a school, and three other business premises in Abuja for tax evasion.

Festus Tsavsar, FCT-IRS acting director of legal services, who led the enforcement team on Thursday, said the closure of the premises was in line with a court order obtained by the tax body.

The affected organisations are Deo Gratias International School, Rural and Urban Homes Ltd, Trevari International Company, Phenomenon International Company, and Residency Hotels.

According to Tsavsar, the hotel and business premises contravened the FCT tax laws by refusing to file their annual returns, in spite of issuing several notices — including a court summons.

“Today, we went out to execute the court orders, which ordered the FCT-IRS to seal off the premises of defaulting taxpayers that were brought before it,” he said.

“We have been able to effectively comply with the court order by sealing off the premises as directed.

“We went to Deo Gratias International School located in Games Village, Kaura, and sealed it off.

“The offence they committed was refusal to file their annual returns in spite of many notices, including a court summon but the school management refused to comply.

“We are at their premises and the management refused to attend to us; and refused to open their doors, in spite of many calls for them to do so to enable us to enforce the court order.”

He also raised concerns over the continued refusal by the school’s management to comply with the tax law.

Tsavsar said the action is tax evasion which is a criminal offence.

‘EVASION OF TAX A CRIMINAL OFFENCE’

He said the management changed the name of the school to DGIS College to “evade tax payment”.

“This is also a criminal offence,” he said.

“The school has not been paying their taxes at all and also refused to file their annual returns since establishment.”

Tsavsar said the team also proceeded to Residency Hotels, located in Area II, Garki, which was also sealed for the same offence.

“From there we went to seal off Rural Urban Homes ltd in Utako and two business premises residing in Transcorp Hilton, Abuja, namely Trevari International Company and Phenomenon International Company,” he added.

Tsavsar warned the affected business owners against any attempt to unseal the premises and advised them to obtain a court order before they can do so.

“If they go against the court order and unseal the premises by themselves, they have committed a criminal offence, and the court will order their arrest,” he said.

“They will be prosecuted in line with the tax law, particularly Section 81 of Personal Income tax law and upon conviction they will be jailed for six months in addition to a fine.”

Tsavsar also warned that the FCT-IRS would go after all tax-defaulting companies and individuals.

He urged taxpayers to comply with existing tax laws, pay their taxes, and file their annual returns.

Business

Student loan scheme is part of anti-corruption efforts, says Tinubu

Published

on

By

President Bola Tinubu says Nigeria’s new student loan regime could be considered an anti-corruption mechanism.

Tinubu was speaking about his government’s anti-corruption efforts during a presidential media chat that aired on Monday night.

He was asked if he considers anti-corruption an integral element among his governance priorities.

Tinubu said any policy intervention that aims to address the driver of corrupt practices could be considered anti-corruption.

“Corruption, in all its ramifications, is bad. But first, you must pay enough attention to its causes,” the president said.

“Why are the people corrupt? Lack of social amenities, lack of funding for their children’s education. There are so many anti-corruption mechanisms that you can put in place to help the people not be corrupt. Pay them good living wages.

“I have moved from 35,000 to 70,000. To me, that’s anti-corruption. I have given more money to the state and local government levels. I have been transparent with my earnings. Every month, there is a publication on how much this country is making.

“The ability to stem corruption is part of the instrument of the EFCC. That is why they are discovering all sorts of inefficiencies in the system, blocking all the loopholes where anybody can just game the system. That is part of anti-corruption.”

Tinubu said enabling equitable access to tertiary education through a loan scheme is just as important in the anti-corruption struggle.

“The removal of subsidies is also anti-corruption. It is very difficult to say you would eliminate it. You can only reduce it to the barest minimum. Help the people grow. Help them with the education of their children. Our student loan is part of anti-corruption,” he said.

“No parent should lament how to encourage their children in university education. Today, it’s working for a larger part of the population. The society is moving from illiteracy to literacy.

“I enjoy debate on what type of courses are being offered in the university these days to improve science, knowledge, and technology. We continue to work on it. We’re not taking our eyes off these serious matters.”

Continue Reading

Business

APPLY: FIRS begins recruitment of senior managers, directors

Published

on

By

The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to fill specialised positions in the organisation.

Announcing various vacant roles on Monday, the FIRS said the recruitment exercise is part of its consolidation strategies.

The advertised positions include assistant manager and deputy manager roles in tax (investigation), PRS (research), public relations, and ICT (cybersecurity and AI management).

Other available roles are assistant manager and deputy manager in PRS (risk management), assistant manager and deputy manager in legal, and senior manager and assistant director roles in tax (audit).

“Applicants must have qualifications and relevant professional certificates as specified in the positions they are applying for and must also fulfill the following requirements,” the agency said.

“Applicant must possess Bachelor’s degree/HND with at least second class lower/lower credit.

“Applicant must have completed NYSC not later than 31st December 2017.

“Applicant for the position of assistant manager and deputy manager must not be more than 40 years of age while senior manager and assistant director must not be more than 45 as at 31st December 2024.”

The revenue agency said candidates must possess strong leadership and management skills, team spirit and ability to effectively delegate, interpersonal and communication skills, and strong Analytical skills.

“Knowledge of the Nigerian tax laws and appreciation of their application and understanding of the regulatory framework within which the FIRS operates,” the FIRS said.

“Knowledge of business/industry environment within which taxpayers operate.

“Ability to work as a regulator with the courage to ensure full compliance with laws.

“Interested candidates should apply via official FIRS career portal: careers.firs.gov.ng and or FIRS verified social media handles.”

The FIRS said the application portal will open on December 23, 2024, noting that the deadline for submissions is January 11, 2025.

The service advised applicants to carefully review the eligibility criteria before applying to ensure they meet all requirements and understand the qualifications needed for successful selection.

Continue Reading

Business

UBA GMD calls for public-private partnership to accelerate economic growth

Published

on

By

Oliver Alawuba, group managing director (GMD) and chief executive officer (CEO) of United Bank for Africa (UBA), has called for public-private partnership (PPP) to accelerate economic growth.

Alawuba spoke on December 20 during the launch of the newly renovated departure section of the Murtala Muhammed International Airport (MMIA), Lagos, refurbished by UBA.

According to a statement on Sunday by the bank, the project, which signifies a transformative moment in Nigeria’s aviation sector, shows UBA’s commitment to national development, highlighting the immense value of strategic PPPs.

The ceremony was attended by stakeholders, including Festus Keyamo, minister of aviation and aerospace development, and Olubunmi Kuku, managing director of the Federal Airports Authority of Nigeria (FAAN).

Alawuba commended the collaboration that led to the execution of the project, emphasising the need for public and private institutions to come together to build and revamp the nation’s assets.

“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he said.

“Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy.

“The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”

Continue Reading

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

Most Read...