Remit Taxes Regularly, LIRS Advises Firms | Independent Newspapers Limited
Newsletter subscribe

South West

Remit Taxes Regularly, LIRS Advises Firms

Posted: Jul 23, 2015 at 5:20 am   /   by   /   comments (0)

Head, Distrain Unit of the Lagos State Internal Revenue Service (LIRS), Mrs Ajibike Oshodi-Sholola, has urged companies operating in the state to always remit their taxes on regular basis to the Service to avoid distain. 

Oshodi-Sholola told the News Agency of Nigeria (NAN) in Lagos that regular remittance of taxes would prevent the payable-tax amount from accumulating into a huge sum that might be difficult for them to pay.

According to her, the debts of some companies had accumulated so high that they were unable to pay and restart operation.

“A good number of firms that are out of operation today are still in search of funds to pay-off their tax debt. “But, if these companies have been paying their taxes in installment on regular basis, the amount will have been minimal for them to bear,” she said.

Oshodi-Sholola said paying of tax was a civic responsibility and a means through which government meets some of its responsibilities to the public.

“Tax-payment is a civic responsibility of everyone because it is a major source of government’s income; and also, the only means government can provide the necessary amenities for the citizens to improve their living standards,” she said.

The Distrain Unit Head said that four companies that include: oil and gas firm and an electrical firm-were sealed over N11.26 million tax evasion last week, during a state-wide tax law enforcement.