Reps direct FIRS to investigate tax evasion

Reps direct FIRS to investigate tax evasion


The Federal Inland Revenue Service (FIRS) has been directed to carry out back duty investigation of all breaches of Nigerian tax laws by corporate bodies.
This directive was given by the House of representative, which also asked it Committee on Finance to ensure strict implementation and compliance with the resolution.
The directive was as a result of a motion moved by Hon. Babangida Ibrahim (CPC, Katsina) calling for the urgent need to improve internally generated revenue accruing into the Federation Account, through the implementation of back duty investigation.
He had argued that recent findings have revealed so much discrepancies and manipulations perpetrated by corporate organisations, despite efforts by FIRS to check incidents of tax evasion in the country.
“Corporate companies operating in Nigeria have undeclared income in terms of company income tax, withholding taxes, VAT deducted on contracts to the Federal Inland Revenue Service, this has led to heavy loss in the internally generated revenue of the federal government,” he noted.
Contributing to a debate on the motion, Hon. Solomon Adeola Olamilekan (ACN, Lagos) lamented the non-uniformity of figures regarding revenue proceeds to the Federation Account.
He said a lot of money was being withheld by these corporations through tax evasion.
Both Hon. Adam Jagaba (PDP, Kaduna) and John Enoh (PDP, Cross River) urged the House to do everything within its powers to ensure tax compliance in the country.