Six firms have been sealed for failure to remit N42.68 million Personal Income Tax

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Six firms have been sealed for failure to remit N42.68 million Personal Income Tax of their staff to the Lagos state government. This information is according to Seyi Alade, the Director, Legal Services of the Lagos State Internal Revenue Service (LIRS). The Legal Director of the state revenue’s service said it was a decision that was long overdue. He disclosed that the affected companies defaulted in the area of tax liabilities from 2014 to 2016 and refused to pay even after an audit was conducted on them and a period of grace was extended to them. He noted that the LIRS had stopped shutting down companies which failed to remit their taxes in order to give room for voluntary compliance. However, a few still flouted the rules and chose not to pay. Alade went on to reiterate the commitment of the LIRS in ensuring that taxes were remitted to the state and promised to move in the direction of unyielding companies which failed to remit tax. He explained that remittances of Consumption and Personal Income Taxes must be adhered to, noting its importance as key drivers for the development of the state and the benefit for the people.

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