Lagos Closes 34 Companies For Owing Over N356m Tax

Lagos Closes 34 Companies For Owing Over N356m Tax

Fawaz Adebisi 

The Lagos State Internal Revenue Service (LIRS) has shut down 34 businesses in the state for failing to pay taxes to the government.

The affected businesses include corporate organisations that did not remit Personal Income Taxes of their employees, and hospitality operators that did not remit Consumption Taxes.

The LIRS director of Legal Services, Mr. Seyi Alade, said that the tax liabilities of these businesses amounted to more than N356.12 million, which deprived the state government of revenue needed for development projects.

He said that the LIRS had reduced its enforcement activities to encourage voluntary compliance by taxpayers, but some businesses continued to evade taxes.

He said that the LIRS had resumed its enforcement activities against tax defaulters, and warned that tax evasion is a criminal offence that could lead to penalties and imprisonment.

He also said that the LIRS is prosecuting some high net-worth individuals and companies that failed to file their tax returns, and that some arrests have been made based on court orders.

He urged all erring businesses and individuals in the state to regularise their tax positions immediately and comply with all the tax laws in Lagos State.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *