Breaking News

Osun begins Interview for shortlisted Teachers across the State | Governor Adeleke Commissions Isiaka Adeleke Resource Centre Donated to Adeleke University by Hon Bamidele Salam. | Revenue Generation: Osun Adopts Unified Ticketing System for Commercial Motorcycle/Tricycle Riders. | Governor Adeleke Pays Emotional Tribute to Late Brother, Senator Isiaka Adeleke, on 8th Anniversary. | EASTER: KEEP HOPE ALIVE FOR THE PROMISE OF BETTER DAYS AHEAD ,GOVERNOR ADELEKE ENJOINS OSUN PEOPLE | Governor Adeleke to Attend Investment Summit and Commonwealth Trade & Investment Forum in London. | Alternative High School for Girls: Operations Will Commence Soon – Osun Govt Insists | Governor Adeleke Directs Police Commissioner to Stop Tax Extortion & Forgery by Yes/No Council Chairmen. | RE: BORIPE LG INAUGURATES MARKET TASK FORCE: OSUN STATE GOVERNMENT WARNS ALL TO DISREGARD ILLEGAL ACT. | GOVERNOR ADELEKE MOURNS PASSING OF OSUN APC CHIEFTAIN, DR ADEKUNLE ADENIJI. | Osun APC in Identity Crisis, Scared of Governor Adeleke’s Local and National Acceptability. | Governor Adeleke Fosters Cultural Tourism at British Museum, Links UK, Osun Businesses in B2B Conference | Governor Adeleke Seeks UK Subnational Investment, Signs MOU on Investment Facilitation | Ifon- Ilobu- Erin Osun Communal Disputes: Governor Adeleke relaxes 24 hours curfew to 12. | GOVERNOR ADELEKE MOURNS PASSING OF EX-OYO GOVERNOR, PA OLUNLOYO. | COURT-SACKED YES/NO CHAIRMEN: OSUN APC RAISED FALSE ALARM | Governor Adeleke to Attend Investment Summit and Commonwealth Trade & Investment Forum in London. | NULGE National leadership commends Governor Adeleke’s Leadership Ingenuity Maturity | Ilobu/Ifon Conflict: Camping for Displaced People Underway. | N159 Billion Infra Plan – Osun APC is Ashamed of its Sordid Records – Spokesperson. | N159 Billion Infra Plan – Osun APC is Ashamed of its Sordid Records – Spokesperson
Webmaster July 17, 2017

Osun Seals Tax Defaulting Banks And Insurance Companies

The State of Osun Internal Revenue Service (OIRS) has sealed off keystone Bank,Bank of Agric and Industrial and General Insurance Company, all situated in Osogbo,the state capital for not effecting the payment of outstanding unremitted withholding tax payable to the State of Osun Government in pursuant to the Back-Duty-Investigation Exercise duly conducted for years 2012 to 2014.
This was made known by the Special Adviser to Mr. Governor on Tax and Revenue Matters, Mr. Jimoh Akano today after the exercise.
He said the action aims at giving a bite to the company’s non-compliance to ensure remittance of all the outstanding money due to the State.
In his own statement, the Acting Chairman/Chief Executive Officer, Osun Internal Revenue Service, Mr. Bicci Alli said that the step taken to seal off the companies is in line with the provision of Section 104 of the personal Income Tax Act 2004 LFN (as amended in 2011) and will not be reopened for business until full compliance is attained.
Mr. Bicci Alli further explained that several meetings had been held with their representatives in the last three years in order to resolve the outstanding tax which proved abortive.
He stressed further that Osun Internal Revenue Service has intensified its efforts on advocacy, publicity and enlightenment programmes on the statutory obligations of the citizenry for voluntary compliance by paying their taxes promptly as prescribed in the Nigeria constitution and the applicable tax legislations.
In spite of its efforts, some corporate organizations and individuals still engage in several violations. As a result of this, government is set to begin enforcement of tax payment, prosecution of all tax defaulters in the State to ensure that the defaulters are made to face the full scale of the law.
He however explained that Personal Income Tax Act mandates all taxable institutions to file its annual tax return for the preceding year at the expiration of 90 days from the commencement of every year of assessment, a taxable person or corporate organization who fails to file its returns with State Internal Revenue Service by the stipulated date is in breach of the provisions of the law.

Leave a Reply

Your email address will not be published. Required fields are marked *