TAX EVASION: AIRS READS RIOT ACT TO DEFAULTERS
person_pin Okey Onwuka
query_builder March 15, 2019 15:53:33

               

By Chukwuka Ugokwe

Awka, March 15, 2019 (MOI) In a bid to curb incidences of tax evasion, Anambra Internal Revenue Service (AIRS) says it will invoke relevant provisions of the law to compel tax defaulters to change their attitude.

Chairman of the Board, Dr David Nzekwu, said during a news briefing that they were set to follow due procedures to ensure total compliance to tax payment by all taxable individuals and companies in the state.

``The implication is that where it is established that a company fails to make a tax return, there is a penalty of N500,000 for a company and N50,000 for an individual,’’ he said.

He said the Board would soon intensify the drive for tax collection across the state, cautioning that defaulting firms and individuals would be made to face the wrath of the law.

Dr Nzekwu noted that under the law companies operating in they were expected to file in their annual returns before Jan. 31, to the Board, with details of their employees, ``Pay As You Earn (PAYE)’’.

``In addition, the companies are expected to file their own returns as a company to the Board before March 31, of every year.

``The law expects that the moment one starts a business in the state, within six months, he is expected to come and register with the Board for the purposes of taxation,’’ Nzekwu added.

While saying that about 2,092 companies had registered in the state, he cautioned against the use of personal account to collect taxes on behalf of the government.

He, then, directed that all payments for tax collection must be made through pay direct system, stating that it would tax audit on or before March 31, to ensure harmonisation of all payments effected by companies and individuals.

The AIRS Chairman, who acknowledged significant revenue loss of revenue by government as a result of tax evasion, re-assured that effective mechanism was being installed to check the practice. (MOI)
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