The Federal Inland Revenue Service (FIRS) has said that tax defaulters who wish to drag the service to court would be mandated to pay 50% of the disputed amount to the Court’s account before hearing.
The Executive Chairman, FIRS, Mr Muhammad Nami disclosed this on Friday during a public hearing organised by the House of Representatives Committee on Public Accounts investigating revenue leakages arising from tax waivers and incentives to foreign companies granted pioneer status.
Nami noted that the development was contained in a recent Practice Direction issued by the Chief Judge of the Federal High Court, Abuja, Hon. Justice John Terhemba Tsoho, under Order 57 rule 3 of the Federal High Court (Civil Procedure) Rules, 2019.
He also revealed that the new directive took effect from May 31 2021.
“We have gotten several amendments to our tax laws which require companies operating in the Free Trade Zones to file tax returns on their operations to the FIRS”, he added.
EDITORIAL NOTE: We wish to add you to our WhatsApp Database to get our trending and latest news directly into your WhatsApp Private Box as the news breaks.
Kindly CONTACT US ON 08072633727 📲 whatsApp 📞Also, For your Advert Placement, Media & Publicity, Press Release, Personality Promotion, Special Report, Conference, Interviews, And So On
©VAM News – THE NEWS YOU NEED.
For conveniency, your comfortability, and easy access to the trending and latest info as the news breaks, Kindly DOWNLOAD VAM News @ www.voiceairmedia.com mobile App, Click Link below….https://m.apkpure.com/vam-news-media/com.wVAMNEWSONLINE_8865908
News Update THE Governorship Candidate of the All Progressives Congress (APC) in the forthcoming governorship…
Hopecentre International Foundation has celebrated a decade of transformative progress towards advancing the service to…
... Sympathises with Victims of Osogbo Rainstorms The Gubernatorial Candidate of the All Progressives Congress,…
News Update THE Senior Special Assistant to the President on National Assembly Matters, Hon. Ibrahim…
Dr Kayode Fayemi, immediate past Governor of Ekiti State and former Chairman of the Nigerian…
The Small Alhaji Media Team has observed with utter amusement the flood of reactions and…