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FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts: Business : Nigerialog.com - Nigeria's Premier Online Forum

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FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: dayan (M) |Time : October 20, 2016, 09:18:49 AM


— 20th October 2016

The Federal Inland Revenue Service (FIRS) continued its crackdown on tax defaulting companies, Wednesday, as its enforcement teams shut firms in Abuja, Sango-Otta and Lagos over outstanding of about N306.82 million debts.
In Abuja, the FIRS team sealed Bolingo Hotels and Towers at the Central Business District for an outstanding tax of N24,422,572.84, which accumulated from 2002. But the enforcement team, led by Bukar Umar Gana, could not locate Etat Consulting Limited in Abuja, which has a liability of N32,448,510. The amount includes company income tax, withholding tax and education tax.

In Lagos, FIRS sealed the offices of the Nigerian German Chemicals Limited, located at Oba Akran Avenue, Ikeja, over a tax debt in excess of N146.6 million. Also affected was Trident Marketing Limited, Ajao Road, Ikeja, which is indebted to the tune of N90.8 million.
In Sango-Otta, Ogun State, the enforcement team shut Allied Atlantic Distilleries Limited, which owes over N45 million. The company’s operations manager told the team he was not aware that the company owed such a debt, an explanation that was dismissed by FIRS officials, who shut its offices.

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Re: FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: dayan (M) |Time : October 20, 2016, 09:21:18 AM
These actions may be unprecedented, but they are good and they introduce a business tax culture that should be encouraged thoughout Nigeria. What obtains now is that workers pay tax while companies and businesses dodge it.
Not good.

Re: FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: alagbe003 (M) |Time : October 20, 2016, 10:43:40 AM
This is the problem of monoeconomic countries. They do neglect other revenue sources to focus on one. Companies owing taxes from 2002 and firs was always alive. Shame on firs

Re: FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: Gideon |Time : October 20, 2016, 11:53:59 AM
Good from firs... I know some companies that do not pay tax, they should be closed down too... However, these companies may be experiencing the effects of recession so maybe firs should work out modalities of paying tax with these companies.

Re: FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: alagbe003 (M) |Time : October 20, 2016, 01:56:43 PM
Good from firs... I know some companies that do not pay tax, they should be closed down too... However, these companies may be experiencing the effects of recession so maybe firs should work out modalities of paying tax with these companies.
was the economy in recession as at 2002, when some of them were piling up unpaid tax?

Re: FIRS shuts Bolingo Hotels, Nigerian German chemicals, others over huge tax debts

By: dayan (M) |Time : October 20, 2016, 09:21:59 PM
was the economy in recession as at 2002, when some of them were piling up unpaid tax?

Obviously not. They felt they could dodge it and they did.
However, working out a paying and/or even "settlement" whereby they pay a percentage while the rest is forgive, may be the only reasonable way to solve it. The most important thing is that the FIRS should put in modalities that ensure that going forward such things does not repeat.

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