FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

FG to shut Third Mainland Bridge on July 24 for 6 months

The Federal Government is set to shut the Third Mainland Bridge for six months starting from Friday, July 24. This...

NNPC Announces Top-Management Level Appointments, Redeployments

The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National Oil Company, as part...

A number of prominent individuals and organizations have been included in a list of 19,901 tax defaulters released by the Federal Inland Revenue Service (FIRS). They include Slot Enterprises, God is Good Motors, PayPorte Technology Limited, Davido Music Worldwide Ltd. and Obasanjo Farms Nig. Ltd.

Equally important, the list of tax defaulters was published on the official website of the FIRS.

The FIRS has also taken possession of the bank accounts of the tax defaulters. Further, the agency has disclosed its intention to keep the accounts under its possession until the defaulters regularize their tax status. Also, defaulters were advised to come along with some documents before the Service can release their bank accounts.

Other prominent organisations whose accounts have been possessed or placed under lien are Iyiola Omisore & Par and Hubmart Stores. Also included are Citiroof Aluminium Co. LtdColdstone Creamery Limited (Yaba); Grand Square Supermarket/Stores Ltd and Open Heavens Bliss Enterprises.

- Advertisement -

Others are Assemblies of God Nigeria; music imprint, X3M Music LimitedTiger Foods Limited and Visionscape Sanitation Solutions Limited. Also listed was Erisco Foods Limited Milk Cube account and United Capital Plc, among many others.

Chairman of the FIRS, Tunde Fowler, was recently queried by the Chief of the Staff to President Muhammadu Buhari. The Commission was queried over low revenue generation and under-performance. Specifically, Fowler was asked to explain the ‘significant’ variances in budgeted collections and actual collections of tax in 2015, 2016, 2017 and 2018, when the actual amount collected as tax fell below the budgeted target.

In his response to the query, Fowler had blamed the revenue shortfall on the recession.

FIRS lists steps to be followed by tax defaulters to regularise tax status

He explained that the variance in the budgeted and actual revenue performance from 2016 to 2018 was due to a fall in the price of crude oil and the reduction of crude oil production. Further, he had stated that “the Nigerian economy also went into recession in the second quarter of 2016 which slowed down general economic activities.”

- Advertisement -

However, it is unclear if the publication of the list of tax defaulters and embargo placed on their accounts is related to the query Fowler had received from his employers, the Federal Government.

Read Also:  Coca-Cola tops estimates as diet drinks drives 5% organic sales growth

The FIRS had also listed steps to be followed by the tax defaulters to regularize their tax status. They include:

– Make payments of applicable taxes for the period owed.

– Visit the closest Substitution Review Unit (SRU) to a) Fill Taxpayers form as required; b) Attach evidence of tax payments made alongside the following: i. A letter to the ECFIRS on response to the substitution on your account; ii. Attach to letter a) Copy of your last file return; b) Copy of current tax clearance certificate; c) Bank statement for 3 years; d) Copy of incorporation and commencement of business.

- Advertisement -

In addition, defaulters are expected to meet the following conditions: State Sources of income if Loan; or operate Bureau de Change etc.; the SRU team will analyse and give feedback or in the alternative “send these details to taxpay@firs.gov.ng.”

See the full list of tax defaulters 

The FIRS had initially given a 30-day notice of its intention to enforce the payment of outstanding tax owed by defaulters. This was disclosed in an advert published by the agency in some national newspapers.

Read Also:  FOWLER DID NOT CALL FOR 50% INCREASE IN VAT RATE

The advert stated that “all Companies, which had their Bank Accounts placed under Lien by the Federal Inland Revenue Service (FIRS) pursuant to Section 31 of the FIRSE Act, but are yet to regularise their tax status with the FIRS, that if they fail, refuse or neglect to pay the tax due within 30 days of this Notice, the FIRS shall in accordance with Section 49 (2) (a- d) of the FIRSE Act proceed and enforce the payment of the said tax against all the Directors, Managers, Secretaries and every other person concerned in the management of the Companies and recover the said tax from such persons without further notice”

The FIRS also cautioned the tax defaulters that “for the avoidance of doubt, the above Section authorises the FIRS to proceed against and punish every officer, Manager, Director, Secretary or any person concerned with the management of the Company in like manner as if he/she had committed the offence.”

Please follow the link below to view the full list of published tax defaulters:

CONSOLIDATED TAX DEFAULTERS LIST

- Advertisement -
FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)

Latest News

Airtel Africa Plc Announces Full Year 2019-2020 Dividend Currency Exchange Rates

London and Lagos, 6 July 2020: Airtel Africa plc, a leading pan-African provider of telecommunications and mobile money services,...

FG to shut Third Mainland Bridge on July 24 for 6 months

The Federal Government is set to shut the Third Mainland Bridge for six months starting from Friday, July 24. This was confirmed by the Federal...

It’s time to get serious about user data

Over the past few years, tech-savvy customers and younger, more dynamic, employees have forced businesses in all sectors to completely change their way of...

Fidelity Bank Plc Appoints Mustafa Chike-Obi as Board Chairman

Fidelity Bank Plc has announced that two of its Board members: Mr. Ernest Ebi (MFR) who has been serving as Chairman, Board of Directors...

Rwanda: AfDB awards $1.1 million grant to expand meat production

The Board of Directors of the African Development Bank have approved a grant of $1.1 million to Rwanda for the implementation of the country’s...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)FIRS lists Slot, GIG Motors, Davido, Obasanjo, others among 19,901 tax defaulters, shuts accounts (Full List)