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Nairaland Forum / Nairaland / General / Business / Banks In Owerri Closed Over Payment Of Taxes To Govt (9994 Views)
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Banks In Owerri Closed Over Payment Of Taxes To Govt by pistol: 9:33am On Dec 12, 2013 |
Almost all commercial banks in owerri today were shut down. I heard that the problem stems from the fact that they were having problems with rochas who directed them to pay taxes to the state government. Everybody is stranded right now. My question is do banks pay tax to the state government that they are domiciled even after paying tax to the FIRS? |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by ProfessorPeter(m): 10:07am On Dec 12, 2013 |
APC is the best thing that has happened to Nigeria. It is Sign of what may happen if Tinubu may take over Aso Rock in 2099 10 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by quality01(m): 10:29am On Dec 12, 2013 |
I believe Rochas is surrounded with enough senior and junior advisers. Please they should do the needful. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Dibiachukwu: 10:34am On Dec 12, 2013 |
APC in Imo state. May God destroy all people bringing that filth into our land. chelah. Uncircumcised canaanites have no place in alaigbo. 13 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Nobody: 10:42am On Dec 12, 2013 |
Dibiachukwu: APC in Imo state. May God destroy all people bringing that filth into our land. chelah. Uncircumcised canaanites have no place in alaigbo. Look at how you're talking, like the boko haramites and sharia war fighters of the north; you sound just like them, and see where they have placed the north: little developmental progress, with every body running away. You better be more accommodating of the peoples of every tribe. That's the only way the south east can take it's rightful place in this nigeria project. NB. I am Igbo. Not a chauvinist. 7 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by touch4mony: 10:57am On Dec 12, 2013 |
arise o APC And defend one of ur own |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Dibiachukwu: 11:09am On Dec 12, 2013 |
wordsbase:My answer 1st maccabees(Apocrypha) {1:11} In those days went there out of Israel wicked men, who persuaded many, saying, Let us go and make a covenant with the heathen that are round about us: for since we departed from them we have had much sorrow. 2 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by ejifranks(m): 11:10am On Dec 12, 2013 |
Double post |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by ejifranks(m): 11:12am On Dec 12, 2013 |
http://www.vanguardngr.com/2013/10/banks-may-shut-operations-imo/ BY CHIDI NKWOPARA, OWERRRI. Commercial banks operating in Imo State are threatening to close shop if government and it’s agents do no stop the harassment, which has engineered the face-off currently raging between them. Vanguard investigations revealed that the feud between government and the management of the commercial banks, which had remained outside the purview of the populace, emanated from the alleged non-payment of certain fees and charges by the banks. Government is alleging that the banks are not remitting withholding taxes they collected to the Board of Internal Revenue, but the management of the commercial banks vehemently denied it. The banks are rather protesting what they termed “sundry exorbitant taxes and levies slammed on us by the Board of Internal Revenue”. Some of the bank executives, who preferred anonymity lamented that these charges ranged between N250 million to over N650 million. “Apart from being a blatant lie, these demands are arbitrary and possibly designed by some people in the system to defraud the banks”, a bank executive told Vanguard. While insisting that none of the banks is in default of payment of any form of tax due to government, the man urged government to feel very free to come and painstakingly scrutinize their books with a view to resolving the issue. “Instead of responding to this invitation, the state government went and secretly obtained a court order restraining some of us from discharging our duties to the citizenry”, the man said. Answering another question, the man lamented that on the scheduled date for another meeting, BIR officials were absent and only said that “Government House had taken over the issue”. Vanguard however gathered that since the Governor and the State House of Assembly were yet to reply their letters, as at press time, the banks may be heading towards shutting down on their own. When contacted, the Commissioner for Special Duties, Sir Jude Ejiogu, who doubles as the Chief of Staff, urged the banks to tell Imo people the truth. According to Ejiogu, “some bank refused to pay their statutory taxes to government for reasons best known to them”. 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Lusola15: 11:15am On Dec 12, 2013 |
Noted. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by touch4mony: 12:24pm On Dec 12, 2013 |
has the bank not been paying there taxes since why will they jst have to stop now,who is fooling who. 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Omexonomy: 12:59pm On Dec 12, 2013 |
Paying too many different exorbitant tax kills busines. Rochas is broke and the CBN AND FED will not allow him borrow more to finance is white elephant project instead of him to sit and relax and enjoy is loot he decided to force banks to cough out money. Thieftunbu stategy is working effectivedly. I FORSEE SUCH THING HAPPINING IN ALL ALL APC STATES. touch4mony: has the bank not been paying there taxes since why will they jst have to stop now,who is fooling who. 5 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Fazhy: 1:43pm On Dec 12, 2013 |
Give to Rochas what is Rochas's. Don't they know this? |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by 4reigningqueen: 1:44pm On Dec 12, 2013 |
This is what LACK OF PROPER STRUCTURE always cause. I wonder what it will take us to put everything in place. Late1 now, they will be jumping up and down, begging investors to come and invest. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Nobody: 1:48pm On Dec 12, 2013 |
Banks are milking the citizenry dry; they keep laying off workers without adequate compensation, giving marketers unrealistic targets while paying them peanuts and declaring massive profits which those in the top echelon of these banks share amongst themselves yet they are complaining of tax. They should shut it and pay the damn tax. 2 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by SlyIg(f): 1:50pm On Dec 12, 2013 |
Professor Peter: Shut up, APC is the best thing that has happened to Nigeria. It is Sign of what may happen if Tinubu may take over Aso Rock in 2099nairalanders! Hmmmmm... |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Nobody: 1:54pm On Dec 12, 2013 |
the tax in question should be the pay as you earn (paye) tax. thats the one collected by state government. your been a limited liability (ltd) or public liability company (plc) does not stop you from paying taxes in the state were you have branches or outlets. its the workers taxes that were deducted by the banks at source but were not remitted. 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Lucy360love(f): 1:57pm On Dec 12, 2013 |
11 years Old Nigerian creates A Social Network. This is the site |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by akintun: 1:57pm On Dec 12, 2013 |
States collect income tax, so I don't understand d closure. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by jpphilips(m): 2:07pm On Dec 12, 2013 |
ejifranks: http://www.vanguardngr.com/2013/10/banks-may-shut-operations-imo/ This is the part of APC i dislike most, heavy taxes in the face of monumental corruption, Nigerians kept quiet all these years because they perceive govt money is free money, a type of Govt is coming to make the masses pay from their pockets to fund the govt, leaving corruption and govt waste in tact. That govt is the govt that will spark revolution in the most populous black nation in the world. PDP understood this theory very well, by keeping taxes low while they steal from the nation. Statutory taxes cannot be the case here, the question is; Has statutory taxes been increased as seen in almost all APC states? Bola tinubu should wise up! 2 Likes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Lucy360love(f): 2:08pm On Dec 12, 2013 |
11 years Old Nigerian creates A Social Network. This is the site 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by jagabanban: 2:08pm On Dec 12, 2013 |
pistol: Almost all commercial banks in owerri today were shut down. Different organs of government collect different taxes. For a state, the taxes they collect include PAYE (Personal Income Tax) which you pay to the state where you reside (Residency Law). There is also State tax of 5% on COT or Capitalized Interest in your Savings account. There are a few other charges. These two are the highest in terms of value for any state government. So, sentiments asides, State governments do collect taxes. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Aspetta(f): 2:12pm On Dec 12, 2013 |
I really thought this was already going on... |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Emulti(m): 2:15pm On Dec 12, 2013 |
mehn, so many ppl here in owerri are stranded right now! 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Dbboy(m): 2:20pm On Dec 12, 2013 |
This is the reason I said no to APC in my life time. This animal are not fit to rule with all this there do or die way to make a penny. |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by fagin1982(m): 2:22pm On Dec 12, 2013 |
Rochas is very right with this one...I am very very sure of this ...Most Banks do not remit their taxes to State IGR - rather they use it to shore up their DDAs' and declare it on their fake Balance sheets A lot of sharp practices by most banks Funny The Comm of Finance Imo State is a Banker and knows and understands the game most banks play Its a pity the innocent citizens ll suffer this For me Banks should Pay up - 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Okijajuju1(m): 2:24pm On Dec 12, 2013 |
If banks are closing because of this, imagine what we small busniess men suffer.. I now have to pay extra to hire armed guards to escort my vehicles whenever they have to leave the state, because every state you enter, has one agbero waiting to obtain you. You pay Federal Tax, You pay State tax, You pay Local Government tax, you pay regulators levies (sometimes, 1 business has over 4 - 5 regulators whose licences you must acquire at a cost), still pay association levies, e.t.c.. HABA NA!! And people are wondering why nobody wants to invest in Nigeria.. Peoples businesses die before they even begin. 1 Like |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by igahdavid(m): 2:27pm On Dec 12, 2013 |
The banks should simply negotiate and pay there taxes. State Government do collect taxes |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by Temismith(f): 2:28pm On Dec 12, 2013 |
Oookis |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by lakesider(m): 2:29pm On Dec 12, 2013 |
I dont know y banka dont want to pay despite all d billions they earn |
Re: Banks In Owerri Closed Over Payment Of Taxes To Govt by ALAREDE: 2:42pm On Dec 12, 2013 |
Provided the incidence of double taxation is eliminated,businesses by law,. are required to pay some selected taxes and levies to the state. What needs to be proved is that the tax or levy does not constitute additional burden on them. It is most unlikely that the government would just forced arbitrary taxes on banks. Parties should find a common ground to resolve the impasse rather than locking out their customers. Economics of commercial banking is centered around continuous operation either on the surface,electronics or other selected platforms. With the proposed close-down, government as well as the banks are losing with the attendant implication on the economics of the state. |
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