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FIRS after airlines, others for owing tax

14 July 2016, 21:31

Abuja - The Federal Inland Revenue Service has stated that it will be looking into airlines, banks and communication companies that owe tax, Punch reported.

Executive Chairman, Tunde Fowler, made this known during the National Revenue Retreat which was organised by the Federal Ministry of Finance in Kano.

Fowler states that the process is to reduce tax debt as there are many companies that run away from paying their taxes.

Also read: FG warned over 10% tax increase

This year alone there has 70000 companies that were found to not have ever paid taxes.

FIRS is generally to improve revenue by finding companies that evade tax.

During an enforcement by FIRS, many have companies have since been shutdown due to not complying with tax laws.

For more on this story visit Punch


- News24


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