'FIRS in collaboration with the banks has started engaging in compliance measures with regard to the tax defaulters and their accounts.'
, made this known at the 49th Annual Accountant Conference organised by the Institute of Chartered Accountants of Nigeria in Abuja.
He said: “FIRS in collaboration with the banks has started engaging in compliance measures with regard to the tax defaulters and their accounts. Mr Fowler explained that if the default continues, the agency will apply appropriate sanctions by delisting defaulting banks from the FIRS collection list. Under the tax substitution programme, the FIRS intensified its efforts to collect taxes from default payers by appointing banks and other financial institutions as collection agents.As collection agents, the banks were directed to make specific deductions from alleged tax defaulters’ accounts and pay such over to the FIRS in full or partial payment of the alleged tax debt. There have, however, been concerns raised by stakeholders on the legality of the method adopted.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
False alarm: Whistle blower remanded in prison for N700m pension, tax fraud - The Nation NewspaperAn Ikeja High Court, Lagos has remanded a whistleblower, Lord Umoh Archibong Edem, in prison custody for raising false alarm over an alleged N700 million pension and tax evasion fraud. Edem was arraigned by the Economic and Financial Crimes Commission (EFCC) on Tuesday on a one-count charge bordering on making false statement to a public …
Read more »
Details of Wednesday's FEC meeting with Buhari, others - Daily Post NigeriaPresident Muhammadu Buhari on Wednesday presided over the Federal Executive Council (FEC) meeting. Buhari in his brief remarks at the beginning of the firs
Read more »
Nasarawa varsity owes N1.72bn – VC - Premium Times NigeriaThe institution is to hold crucial meetings on September 14.
Read more »
Customers Owe Us N11bn In 8 Months– KEDCOCustomers Owe Us N11bn In 8 Months\u2013 KEDCO Kano Electricity Distribution Company (KEDCO) has stated that the unpaid bills of its customers across its franchise area between January and August, 2019
Read more »
Mobile network operators’ assets in Nigeria hit N1.95 trillion | The Guardian Nigeria News - Nigeria and World NewsTotal assets base of mobile operators in Nigeria increased by 130 per cent between 2017, and 2018, hitting N1.95 trillion last year, from N847.97 billion. Nigeria MobileNetwork
Read more »
False alarm: Whistle blower remanded in prison for N700m pension, tax fraud - The Nation NewspaperAn Ikeja High Court, Lagos has remanded a whistleblower, Lord Umoh Archibong Edem, in prison custody for raising false alarm over an alleged N700 million pension and tax evasion fraud. Edem was arraigned by the Economic and Financial Crimes Commission (EFCC) on Tuesday on a one-count charge bordering on making false statement to a public …
Read more »