Home Business LIRS closes 44 companies over failure to remit N460m tax of workers

LIRS closes 44 companies over failure to remit N460m tax of workers

by Business News Report

The Lagos State Internal Revenue Service (LIRS) said it sealed 44 companies in the last two months for failure to remit N460.6 million personal income tax of their workers. Mrs Folasade Coker-Afolayan, the Head of Destain Unit of LIRS, disclosed this in Lagos.

Coker-Afolayan said that the companies were sealed between Jan. 7 and Feb. 26. She said that 23 of the firms were sealed in January for failure to remit N326.6 million to the state government. The official said that another 21 firms were closed in February for failure to remit more than N134 million tax liabilities.
She said the affected companies included those in the manufacturing, media, tourism, hotels and hospitality sub-sectors. Coker-Afolayan, reiterated that tax payment was a civic responsibility of citizens, explaining that the proceeds were being used to fund government’s projects.
“Tax is a civic responsibility of everyone. It enables government function effectively by providing infrastructure and improved standard of living for the people,” she said.
Coker-Afolayan advised tax payers to remit their taxes promptly, stressing that the revenue service would continue to sanction defaulters. She also warned tax payers not to break government seals as it constituted an offence.

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