FIRS Accuses Obasanjo Farms, Visionscape, Others Of Owing Taxes.

Business Headlines

The Federal Inland Revenue Service (FIRS) has published a total of 19,901 business accounts placed under lien for owing taxes to the Federal Government.

The FIRS has warned the affected companies to regularise their tax status within 30 days.

Prominent among the list of defaulters is Obsanjo Farms Nig Ltd (Feedmill) owned by Olusegun Obasanjo, Nigeria’s military president between 1976 and 1979, and democratic president between 1999 and 2007.

Iyiola Omisore & Par, owned by a former two-term senator and former Osun State deputy governor, Iyiola Omisore, was another name on the list published on the FIRS website under “Consolidated Tax Defaulters List”.

Other accounts placed under the FIRS lien include Visionscape Sanitation Solutions Limited, Coldstone Creamery Limited (Yaba), Payporte Technology Limited, God is Good Motors, Hubmart Stores Limited, and thousands others.

In a newspaper advertorial, the FIRS notified the affected companies to regularise their tax status with the agency within 30 days or face penalties.

With the accounts of the affected businesses placed under lien, the FIRS is empowered to deduct outstanding fees.

“The FIRS shall in accordance with Section 49 (2) (a- d) of the FIRSE Act proceed and enforce the payment of the said tax against all the Directors, Managers, Secretaries and every other person concerned in the management of the Companies and recover the said tax from such persons without further notice.

“For the avoidance of doubt, the above Section authorizes the FIRS to proceed against and punish every officer, Manager, Director, Secretary or any person concerned with the management of the Company in like manner as if he/she had committed the offence,” the FIRS warned.

To lift the lien on their accounts, the FIRS urged affected businesses to make payments of applicable taxes for the period owed as a first step.

The other steps include visiting the closest Substitution Review Unit (SRU) to fill tax payers form as required, and to attach evidence of tax payments made alongside a letter to the ECFIRS on response to the substitution on account.

Attached to the letter should be a copy of last file return, a copy of current tax clearance certificate, a copy of incorporation and commencement of business, and bank statement for three years.

They’ll also be required to state sources of income after which an SRU team will analyse and give feedback.