EFCC, FIRS to track tax evaders

The Federal Inland Revenue Service and the Economic and Financial Crimes Commission have pledged to strengthen their collaboration to track both individuals and organisations who refuse to pay the right taxes.

The partnership, according to a statement by the Head, Communications and Servicom Department, FIRS, Wahab Gbadamosi, has led to the recovery of the sum of N29bn Withholding Tax from banks and other financial institutions in the country between November 2017 and March 2018.

The partnership, the statement noted, would beam searchlights on defaulting taxpayers who also refused to embrace the Federal Government’s Voluntary Assets and Income Declaration Scheme to offset their tax liabilities.

At a meeting on Tuesday during a courtesy visit to the EFCC in Abuja, the Executive Chairman, FIRS, Babatunde Fowler, said Nigeria, just like other countries across the world, was looking inwards to lift the economy and would not tolerate tax defaulters.

Fowler stated, “There are some issues of non-remittance of Withholding Tax, Value Added Tax and Personal Income Tax. The EFCC has shown support before. When tax defaulters are invited to your office, we see results.

“I don’t know how you do it but we see result. Recently, two banks came forward to comply on their own. I think that they must have heard words. We want joint assistance with the EFCC to make sure that all tax defaulters get the lawful treatment.

“I want to let every taxable person in Nigeria know that we are ready to deploy all powers at our disposal to ensure that every tax defaulter is punished according to the law.”

The Acting Chairman of the EFCC, Ibrahim Magu, said the agency was ready to do more to bring culprits to book.


Credits/Sources: www.punchng.com