Notable business entities in the country have been accused of deliberately refusing to remit taxes totaling N26.014 billion to the Federal Inland Revenue Service (FIRS) from 2015 to date.
The affected entities are Keystone Bank, Arik Airlines Limited, Niger Delta PHCN, Arab Construction, Nigerian Security Printing and Minting, Daar Communication, NICON Luxury Hotel, Niger Insurance, Nigerian Maritime Administration and Safety Agency, Ministry of Defence, Ministry of Petroleum Resources, National Identity Management Commission, Nigeria Export Processing Zone, among others.
In a published statement on Tuesday, the House of Representatives Committee on Public Accounts said the business entities accumulated the figure through value-added tax, companies income tax, withholding tax, personal income tax, pay-as-you-earn tax, education tax, and relevant contracts tax.
The committee said, “At the meeting of the Public Accounts Committee with the Federal Inland Revenue Service (FIRS) on the Auditor-General’s 2015 report held on Monday, July 27, 2020, the committee discovered that some companies deliberately refused to remit taxes to FIRS since 2015 to date and this contravenes relevant provision of tax law and financial regulations.
“All listed companies are hereby summoned to cause appearance before the Public Accounts Committee on Monday, August 20, 2020, at 11.00 a.m in Meeting Room 446, House of Representatives New Building, to render evidence of payment of their outstanding taxes”.
Top on the list of defaulting companies are Arik Airlines Limited with a total of N4.868 billion of value-added tax and with holding tax; Niger Delta PHCN has a total of N2.944 billion from value-added tax and withholding tax; IRS Airlines Limited with N1.713 billion of value added tax; Arab Construction with N1.391 billion of value added tax and Keystone Bank with N890.781 million from value-added tax.