It is important that Nigeria puts a stop to all tax frauds that had been going on for too long
The Federal Inland Revenue Service (FIRS) on Thursday said it had instructed banks to freeze the accounts of pay-TV group MultiChoice to recover $4.4 billion.
FIRS chairman Muhammad Nami in a statement is quoted as saying, “The companies would not promptly respond to correspondences. They lacked data integrity and are not transparent as they continually deny FIRS access to their records.
“It was discovered that the companies persistently breached all agreements and undertakings with the Service, they would not promptly respond to correspondences, they lacked data integrity and are not transparent as they continually deny FIRS access to their records,” FIRS said.
The FIRS chairman stated that “Regrettably, Companies come into Nigeria just to infringe on our tax laws by indulging in tax evasion. There is no doubt that broadcasting, telecommunications, and the cable-satellite industries have changed the face of communication in Nigeria. However, when it comes to tax compliance, some companies are found wanting. They do with impunity in Nigeria what they dare not try in their countries of origin.”
”It is important that Nigeria puts a stop to all tax frauds that had been going on for too long, and all companies must be held accountable and made to pay their fair share of relevant taxes including back duty taxes owed especially VAT,” He added.