The Lagos State Internal Revenue Service (LIRS) on Thursday sealed six companies for not remitting N50 Million taxes to the state government. The defaulters are Nicon Town Management Company, with N36,053,652.89 tax liability; Marketing Mix and Company Limited, N10,712,914.15; Hope Valley International Clinic, N2,389,885.28; BEC Consultants Nigeria Limited, N792,563.47; Goldmine Global Services Limited, N505,812.73, and Brown Brommel Limited, N368,159.63).
LIRS Chairman, Olufolarin Ogunsanwo, said the affected companies would not be re-opened until they pay all taxes owed the government. He also warned other defaulting companies, especially employers of labour against tax evasion. Ogunsawo explained that under the Personal Income Tax Act, a taxable person is statutorily required to file a return of income for the preceding year at the expiration of 90 days from the commencement of every year of assessment, whilst any employer of labour is required to file all emoluments paid to its employees for the preceding year, not later than 31st of January each year.
“In addition to that, employers will also be required to furnish the LIRS with the salary projection of all staff for the current year. The implication of which is that a taxable person or corporate organisations who have not filed their tax returns with LIRS by the stipulated date is in breach of the provisions of the law, which is a criminal offence that is punishable under the tax laws”, he said.