FIRS reveals 23,141 tax defaulters owing N254 billion


The Federal Inland Revenue Service (FIRS) has revealed that a total of 23,141 defaulters owe N254 billion in tax liabilities.

The executive chairman of FIRS, Babatunde Fowler made this known at the 49th annual accountant conference organised by the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja.

The FIRSchief said  the agency is collaborating with commercial banks to ensure the recovery of defaulted taxes.

According to him, “FIRS in collaboration with the banks has started engaging in compliance measures with regard to the tax defaulters and their accounts.”

“Failure to carry out this directive will result in the banks being sanctioned according to Section 31 subsection 1-3 and 32 respectively of the FIRS Act 2007.”

Fowler said out of 44,293 non-compliant companies, 3,976 already paid about N97.7 billion.

He said the agency recovered N88.59 billion after reaching an agreement with 3,797 out of 42,736 companies.

The FIRS collects taxes from default payers by appointing banks and other financial institutions as collection agents under the tax substitution programme

Fowler said if the default continues, the agency will apply appropriate sanctions by delisting defaulting banks from the FIRS collection list.

Leave a Reply

Your email address will not be published.