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
Dr Kayode Fayemi, immediate past Governor of Ekiti State and former Chairman of the Nigerian…
News Update Ibrahim Adamu Bala has been selected by the Allied Peoples’ Movement (APM) as…
News Update THE Federal Government has suspended the recent hike of the fees for the…
Dangote Industries Limited has intensified efforts to combat illegal haulage activities involving its trucks by…
THE federal government says intensified efforts to curb illegal mining nationwide have led to the…
News Update The rescue operation, which led to the safe return of the abducted pupils…