The Federal Inland Revenue Service (FIRS) has served a 7-day notice to tax defaulters, with a warning that it will soon commence a nationwide tax enforcement to bring tax defaulters to book.

The Acting Executive Chairman of FIRS, Abiodun Aina in a notification to taxpayers on Tuesday informed them of the plan by the agency to begin tax enforcement against such defaulters should they continue to fail in fulfilling their tax obligations.

He advised such taxpayers to settle their tax liabilities within 7 days of the publication to avoid any inconveniences or interruptions in their operations. Said the FIRS in a public notice issued today in Abuja: “The FIRS hereby informs all taxpayers (individuals, partnerships Enterprises, Corporate organisations, Ministries, Departments and Agencies) who are in default of payment of taxes arising from self-assessment, tax audit, tax investigation, transfer pricing audit, demand notices and any other liabilities, that the Service will commence a NATIONWIDE TAX ENFORCEMENT EXERCISE with a view to prosecuting defaulters and recovering all outstanding tax liabilities”, the notice read. Aina said the enforcement is pursuant to the provisions of Section 8, 26 (2), 33 and 35 of the Federal Inland Revenue Service (Establishment Act, 2007). “The taxes referred to are as follows:
1. Petroleum Profits Tax; 2. Companies Income Tax;
3. Value Added Tax;
4. Withholding Tax;
5. Tertiary Education Tax ; 6. NITDA Levy;
7. Stamp Duty;
8. Capital Gains Tax.

He added: “All taxpayers are therefore strongly advised to settle their tax liabilities within 7 days of this publication to avoid any inconveniences or interruptions in your operations”. Aina wished “all our taxpayers Merry Christmas and Happy New Year in advance”.

The FIRS had always warned that tax defaulters who fail to take advantage of programmes like the Tax Amnesty and the Volountary Assets Income and Assets Declaration (VAIDS) programmes to off-set their tax liabilities, risks having the rough end of the stick.

SOURCE: https://www.trendingaccounting.com/2019/12/firs-gives-7-day-notice-to-tax.html