Companies of some popular brands are among those now named by the Federal inland Revenue Service as tax defaulters and whose bank accounts it has taken over.
Among them are Davido Music Worldwide, Obasanjo Farms, Slot and XM3Music.
In all, the FIRS has taken possession of the bank accounts of over 19,000 tax defaulters and vowed to keep the accounts under its possession until they regularise their tax status.
This is coming at a time the service Chairman, Tunde Fowler, has been queried by the Federal Government for dwindling tax revenues.
According to ‘The Nation’, some of the companies whose accounts have been taken over or placed under lien are Obasanjo Farms Nig. Ltd (Feedmill); Iyiola Omisore & Par; Citiroof Aluminium Co. Ltd; Coldstone Creamery Limited (Yaba); Davido Music Worldwide Ltd; Grand Square Supermarket and Stores Ltd; Open Heavens Bliss Enterprises; The Assemblies of God Nigeria; X3M Music Limited.
Others are: 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 and United Capital Plc among many others.
Interestingly, as is happening in other parts of the world, tax authorities in Nigeria now pay attention to what is happening in the entertainment industry.
Recently, ex-international J. J. Okocha, and celebrated actress, Monalisa Chinda, were summoned by the court over tax issues.
Abroad, the likes of Lyonel Messi and Ronaldo have also been freaked for tax.
To lift the lien on the business accounts, the FIRS urged the tax defaulters to, among other steps, take payments of applicable taxes for the period owed; visit the closest Substitution Review Unit (SRU) to: a) Fill Tax payers form as required; b) Attach evidence of tax payments made alongside the following: i.
” A letter to the ECFIRS on response to the substitution on your account; ii. Attach to letter a) Copy of your last file return; b) Copy of current tax clearance certificate; c) Bank statement for 3 years; d) Copy of incorporation and commencement of business,” it further indicated.
The tax defaulters are also expected to state Sources of income if Loan; or operate Bureau de Change etc.; the SRU team will analyse and give feedback or in the alternative “send these details to [email protected].”
