The Federal Inland Service (FIRS) has placed accounts belonging to Davido Music Worldwide Ltd, Obasanjo Farms, and Iyiola Omisore under lien for owning taxes.
YaahooJournalist reports that ‘lien’ is a right to keep possession of a property (accounts) belonging to another person until a debt owed by that person is discharged.
The development is coming after FIRS Executive Chairman, Babatunde Fowler, was queried by President Muhammadu Buhari over alleged discrepancies in tax collections from 2015 to 2018.
YaahooJournalist understands that the FIRS boss was queried by President Buhari’s Chief of Staff, Abba Kyari, in a letter dated August 8, 2019.
The letter which was addressed to the FIRS Chairman asked Fowler to explain reasons for ‘significant’ variances in budgeted collections and actual collections of tax in 2015, 2016, 2017 and 2018.
FIRS listed 19,901 accounts that were yet to regularize their tax status.
YaahooJournalist notes that some of the accounts published include: Citiroof Aluminium Co. Ltd, Coldstone Creamery Limited (Yaba), Davido Music Worldwide Ltd, Grand Square Supermarket and Stores Ltd, Iyiola Omisore & Par, Open Heavens Bliss Enterprises and The Assemblies of God Nigeria. Others are X3M Music Limited, Tiger Foods Limited, Slot Enterprises, Payporte Technology Limited, Visionscape Sanitation Solutions Limited, Erisco Foods Limited Milk Cube account, God is Good Motors (Vehicle sales account), Hubmart Stores Limited, Obasanjo Farms Nig. Ltd (Feedmill) and United Capital Plc.
In an advertorial, the FIRS vowed to enforce the payment of whatever outstanding each company had.
“This is to notify all Companies, which had their Bank Accounts placed under Lien by the Federal Inland Revenue Service (FIRS) pursuant to Section 31 of the FIRSE Act, but are yet to regularise their tax status with the FIRS, that if they fail, refuse or neglect to pay the tax due within 30 days of this Notice, the FIRS shall in accordance with Section 49 (2) (a- d) of the FIRSE Act proceed and enforce the payment of the said tax against all the Directors, Managers, Secretaries and every other person concerned in the management of the Companies and recover the said tax from such persons without further notice.
“For the avoidance of doubt, the above Section authorizes the FIRS to proceed against and punish every officer, Manager, Director, Secretary or any person concerned with the management of the Company in like manner as if he/she had committed the offence,” it added.
