Tax Evasion: EKIRS seals off Union Bank over failure to pay N1.1m tax (Photos)

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The Ekiti State Internal Revenue Service (EKIRS) has sealed the premises of Union Bank PLC at Ijigbo in Ado Ekiti on the orders of an Ekiti State High Court sitting in the state capital (Ado Ekiti) for failure to pay a sum of N1.1 million (One Million, One Hundred Thousand Naira) as taxes on its business premises.

It is worthy of note that the Government went through due process and commendable restrains before sealing off the premises.

Tax Evasion: EKIRS seals off Union Bank over failure to pay N1.1m tax (Photos)
Union Bank PLC, Ijigbo, Ado Ekiti | www.brandspurng.com

According to the revenue board, Union Bank was duly served with the demand notice for the sum of N1.1million (One Million, One Hundred Thousand) by the State Ministry of Investment, Trade and Industry but failed to make required remittance within the time frame of the notice.

Tax Evasion: EKIRS seals off Union Bank over failure to pay N1.1m tax (Photos)
Union Bank PLC, Ijigbo, Ado Ekiti | www.brandspurng.com

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The Bank neither made any objection to the demand notice nor any payment until the period of grace lapsed which informed the decision of the State Government to obtain a Court order to persuade the erring bank to offset the debt.

The EKIRS, however, stated that while the Ekiti State Government is committed to the development of the private sector, tax evasion will not be tolerated.

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