FIRS seals Capital Oil for tax evasion

The Federal Inland Revenue Service (FIRS) resumed its enforcement exercise on Monday by shutting down tax-defaulting companies in Lagos and Owerri, Imo State.

In Lagos, the premises of Capital Oil Plc, owned by Ifeanyi Ubah, were sealed by an FIRS enforcement team led by one Mrs Anita Erinne.

The staff of the company, which is owing N30 million, were ordered out of the premises. The management of the company told the team it was ready to defray its tax liabilities, but FIRS officials said it was not possible because banking hours had elapsed, leaving the FIRS team with no option than to shut its gates.

Also in Apapa, the FIRS visited the offices of Folawiyo Energy Trading Company along Creek Road. But the company, which the FIRS reckons is owing N450 million in company tax for 2013 to 2015, maintained that it is only owing for last year. The FIRS team did not seal the company, but advised its management to clear the matter up at the FIRS office in Ikoyi.



Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.

..