Senate orders FIRS to go after tax defaulters

The sum of N17, 690, 341, 565 is presently being owed the federal government in the form of tax evasion by some defaulting companies whose addresses could no longer be traced, the Federal Inland Revenue Service, FIRS has said.

Irked by the revelation, the Senate has therefore ordered the Executive Chairman of FIRS, Muhammad Mamman Nami, to go after the defaulting agencies to recover the whooping amount and remit it into Consolidated Revenue Fund, CRF within 90 days.

The upper legislative chamber, through its Committee on Public Accounts, also directed FIRS to sanction its officers involved in alleged overlapping contracts and splitting between 2014 and 2015 and remit N32, 449, 743.61 into government coffers within the ultimatum with evidence of compliance submitted to the Auditor General for the Federation, AuGF and the committee.

The 2015 Audit report from the Office of Auditor General for the Federation, OAuGF, had revealed that the management of FIRS owed up to N17, 690, 341, 565 tax evasion by the companies.

These were fallouts of the queries issued against FIRS and 104 other public agencies by the OAuGF in the 2015 Audit report , sustained and adopted by the Senate.

The Auditor General in the query on the N17billion unrecovered taxes by FIRS said: “The Federal Inland Revenue Service failed to recover the total sum of N17, 690,341,565.00billion from different companies in the year under review.

“The unrecovered taxes are made up of Value Added Tax (VAT), Company Income Tax (CIT), Withholding Tax (WHT), Education Tax (EDT) and NITDEF.

“Though the FIRS in its response to the query said it had recovered N2,879,152, 077.76billion but actual receipted recoveries made by FIRS was N273, 038,474.74million , leaving a balance of N17,417,303,090.90billion to be recovered.

“Several companies were also discovered to have defaulted in filing their annual returns, many of which FIRS said could not be located due to change of addresses.”

The Senate in adopting the report directed the Executive Chairman of FIRS to recover the money and pay to the Consolidated Revenue Fund just as it ordered for blacklisting of all companies that failed to file their annual returns.

It added that “evidence of compliance should be forwarded to the Public Accounts Committee”

The upper legislative chamber was tougher in its resolutions on alleged contract overlapping and splitting by some officers of the revenue generating agency by calling for their identification and sanctioning.

The query reads: “A contract for the sum of N32, 667,600.00million awarded by FIRS , was split and distributed to four companies , whose submissions were earlier rejected , mainly to accommodate the approval ceiling of the chairman , contrary to Financial Regulations 2921.

“The Audit also revealed that a total of N32, 449,743,61million contracts under recurrent expenditure were awarded by the agency in the 2014 financial year and paid for in the month of January 2015, contrary to financial regulation 414(b)”.

Angered by the infraction, the Senate in its adoption of the report directed FIRS to pay the money back into government coffers and submit evidence of compliance to the OAuGF and its Committee on Public Accounts.

According to the Senate’s resolutions on the N17billion, the FIRS unrecovered taxes and N32million Contracts splitting and overlapping; has about 60 days left to make the required recoveries and remittances into the Consolidated Revenue Fund.

Facebook Comments Box
Copyright 2024 ROYAL NEWS. All rights reserved. Digital material on this website, may not be published, reproduced, broadcast, rewritten or redistributed in whole or in part without prior express written permission from ROYAL NEWS.
 

For Adverts and News/Event Coverage, contact 08061346946, 07030849251. Or email info@royalnews.com.ng

Download ROYAL NEWS app

Html code here! Replace this with any non empty raw html code and that's it.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe

spot_img

Latest News

More like this
Related

Emir Sulu-Gambari preaches unity, thanks Nigerians for celebrating him at 29years on throne

The Emir of Ilorin and Chairman Kwara State Traditional...

Hajj 2025: NAHCON inaugurates c’ttees to screen, inspect tour operators

As part of the preparations for the 2025 Hajj...

NNPC Ltd Set to Supply 100mmscf/d Gas to Dangote Refinery

The NNPC Gas Marketing Limited (NGML), a subsidiary...

Coronation Anniversary: Muslim Media Group Hails Emir Sulu-Gambari At 29

The Muslim Media Watch Group of Nigeria has...

NNPCL announces new leadership appointments

The Board of Directors of NNPC Limited is pleased...

Look beyond illicit drug seizures, Oba of Benin challenges NDLEA, others

The paramount ruler of Benin, Oba Ewuare II, has...

Names of vacation judges released as Federal High Court begin Xmas break Dec. 16

Federal High Court Judges will, on Monday, December 16,...

Edo Gov-Elect, Okpebholo names Sun’s man, Itua spokesman

Edo State Governor-Elect, Senator Monday Okpebholo, has named the...

Tinubu may present 2025 budget in December

Signs that presentation of 2025 budget to joint session...

ISI-UI HIJAB: ISI LOSES AGAIN AS COURT STRIKES OUT STAY OF EXECUTION APPLICATION

For the second time within six months, the International...

Go after looters, Buratai tells Army personnel

The Chief of Army Staff, COAS, Lt. Gen. Tukur...

Senate okays N10.069bn refund payment to Kogi ahead of guber election

Less than a week to the governorship election in...

Yoruba leaders have warned President Buhari not to arrest me- Sunday Igboho says (video)

Yoruba activist, Sunday Igboho, says Yoruba leaders have...

49-yrs old man arrested for planning his own kidnap

A 49- year- old man identified as Clement Silver...

(VIDEO) Nigerians express anger after Super Eagles match

/*99586587347*//*54745756836*/

Al-Hikmah University will emulate Unilorin success — VC, Prof Yusuf

The Vice-Chancellor of Al-Hikmah University, Ilorin, Prof. Noah Yusuf,...

BVAS will be used in governorship elections– INEC

The Chairman of the Independent National Electoral Commission (INEC),...

Photos from the arrest of illegal tax collectors in Cross River state

The Cross River State Government has began the...

Opinion….DSO: Crucifixion in place of applause

By Tunde Akanbi When any Nigerian comes into the world...

What Buhari said shortly after COAS Ibrahim Attahiru, others died in plane crash

President Muhammadu Buhari is deeply saddened over the air...