Home Finance Air Nigeria CEO arrested over N4.86billion tax debts

Air Nigeria CEO arrested over N4.86billion tax debts

by Business News Report

The Federal Inland Revenue Service (FIRS) has arrested the Managing Director of Air Nigeria, Mr. Kinfe Kayssay, for alleged failure to remit taxes amounting to N4.868, 496,152:00 billion. A statement issued by Service, signed by Director, Communications & Liaison’ Department, Mr. Emmanuel Obeta said, “The tax enforcement drive was led by Mr. James Binang, an Assistant Director in charge of Debt Enforcement and Special Prosecution Unit (DESPU) of the Service.
“The arrest is aimed at recovering arrears of taxes accruing to government from Withholding Tax (WHT) and Value Added Tax (VAT). The enforcement is part of a bigger move to recover the N170. I Billion (N170, 132, 089, 411:46) outstanding taxes owed to government by public and private organisations as well as ensure that all taxpayers are captured in the tax net. During interrogation, of Kayssay Binang had observed that the FIRS management was not happy with the tax liabilities of the company and wanted to find out from the company, why it refused to pay the liabilities. Binang explained that the refusal to deduct and remit taxes as well as failure to file tax returns amount to criminal offences.
Explanations were also sought from the company about the Tax Clearance Certificate (TCC) alleged to have been obtained by Air Nigeria despite its tax liabilities—which was a requirement to secure their expatriate quota. Kayssay agreed that the company actually had tax liabilities to pay but pleaded for more time to settle the liabilities and comply with the necessary legislations as regards filing of tax returns.

Related Posts

Leave a Comment