Business
Disputed tax: Tribunal orders Multichoice to deposit N900bn with FIRS
A tax appeal tribunal sitting in Lagos has ordered Multichoice Nigeria Limited to deposit 50 per cent of the disputed N1.8 trillion tax with the Federal Inland Revenue Service.
Spokesman for the FIRS, Abdullahi Ismaila Ahmad, made this known in a statement on Wednesday.
In July, the FIRS had appointed some commercial banks as agents to recover N1.8 trillion from accounts of MultiChoice Nigeria Limited and MultiChoice Africa.
The FIRS chairman, Muhammad Nami, had said the decision to appoint the banks as agents and to freeze the accounts was as a result of the group’s continued refusal to grant FIRS access to its servers for audit.
Nami had noted that FIRS discovered that the companies persistently breached all agreements and undertakings with the service.
The FIRS said it determined through a forensic audit that Multichoice Nigeria Limited had failed to pay to the government of Nigeria taxes worth N1.8 trillion.
In its reaction, Multichoice had assured that it would work with FIRS to prove its tax compliance.
At resumed hearing on Tuesday, the five-member TAT led by A.B. Ahmed, its chairman, issued the order following an application brought to the tribunal by the counsel to FIRS.
“The Counsel made the application under Order XI of the TAT Procedure Rules 2010 which requires Multichoice, or any other taxpayer who disputes their tax assessments, to make the statutory deposit required under Paragraph 15(7) of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007 (FIRS Act) as a condition that must be fulfilled before the prosecution of the appeal brought before TAT,” the statement reads.
“In certain defined circumstances to which the Multichoice appeal fits, Paragraph 15(7) of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007 (FIRS Act) requires persons or companies seeking to contest a tax assessment to pay all or a stipulated percentage of the tax assessed before they can be allowed to argue their appeal contesting the assessment at TAT.”
The FIRS said Multichoice filed a suit at the Lagos TAT following its dispute over the agency’s issuance of notices of assessment and demand note in the sum of N1, 822, 923,909,313.94k on April 7, 2021.
“At Tuesday’s hearing of the matter in Appeal No: TAT/LZ/CIT/062/2021 19/08/2021 (Multichoice Nigeria Limited v. Federal Inland Revenue Service), Multichoice Nigeria Limited amended its Notice of Appeal and thereafter sought through its Counsel, Bidemi Olumide of AO2 Law Firm for an adjournment of the proceedings to enable it to respond to the FIRS’ formal application for accelerated hearing of the appeal and prayer before the TAT to order Multichoice to produce DSTV’s revenue and subscriber database, among other prayers,” the statement further reads.
“In response, however, the FIRS Counsel asked TAT to issue an order requiring that Multichoice makes the statutory deposit of 50 per cent of the disputed sum.
In its consideration after hearing argument from both sides, the tax tribunal upheld the FIRS act and directed Multichoice to deposit with the FIRS the amount prescribed by the law, which is an amount equal to the tax charged upon Multichoice in the preceding year of assessment or one half of the tax charged by the assessment under appeal (whichever is lesser), plus a sum equal to 10% of the said deposit as a condition precedent for further hearing of the appeal.
The tribunal adjourned the hearing of the appeal case until September 23, 2021.
Business
Naira gains 28.15 against dollar, trades N1,390/$
Naira gains 28.15 against dollar, trades N1,390/$
The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.
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The percentage increase is significant when compared to the previous trading date on Monday, April 29.
The local currency experienced about two weeks steady fall by exchanging at N1,419 to a dollar.
The success story was replicated in the volume of currency traded, as the total daily turnover increased.
The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar.
Naira gains 28.15 against dollar, trades N1,390/$
(NAN)(www.nannews.ng)
Railway
Finally, Port Harcourt-Aba train service begins with four-day free ride
Finally, Port Harcourt-Aba train service begins with four-day free ride
A four-day free train ride from Port Harcourt in Rivers State to Aba, Abia State will begin today, May 1, signifying commencement of rail service along the 62-kilometre route.
This is coming a month after the train operation on the rehabilitated narrow gauge track was initially meant to start.
Minister of Transportation, Senator Saidu Alkali, inaugurated the rail service in Port Harcourt on Tuesday.
Alkali said the project was part of the rehabilitation of 1,443km Port Harcourt to Maiduguri narrow gauge rail line.
He said that the Port Harcourt to Aba section of the project was the initial part of the Eastern narrow-gauge railway, aiming to connect five geopolitical zones of the country.
He said, “The Federal Government is pleased to inaugurate the train service from Port Harcourt to Aba, a key priority area of President Bola Tinubu’s administration.
“We are grateful to God for the completion of the Port Harcourt to Aba section, which will bring succour to the people.
“The Eastern narrow gauge covers five geo-political zones of the country, including South-South, South-East, North-Central, North- West, and North-East,” he said.
Aba to Enugu rail is next
Alkali said following the completion of the first segment and the start of commercial operations of the rail service, the Federal Government would soon commence the construction of the Aba to Enugu rail project, linking the two states together.
He added that his ministry was working with investors to ensure the conversion of the locomotive across the country from diesel to Compressed Natural Gas (CNG) to reduce transportation costs further.
“Shortly, we will take a train ride from Port Harcourt to Aba, which means that from today, passenger train service has commenced.
“We will continue the project from Aba to Enugu and from Port Harcourt to both Onne and Port Harcourt seaports for freight services.
“The ministry is currently in discussion with an investor to convert our locomotive from diesel to Compressed Natural Gas (CNG) to reduce transportation costs further,” he said.
The minister assured Nigerians that arrangements were being made with security agencies to ensure adequate security along the rail routes.
He also announced free train rides from Port Harcourt to Aba between May 1 to May 4.
“The train will depart from Port Harcourt to Aba at 8am daily, while it will leave Aba to Port Harcourt at 3pm daily.
“Full commercial operations will resume on May 7, 2024,” he said.
Aviation
Air Peace gets court order to answer queries on aircraft operations
Air Peace gets court order to answer queries on aircraft operations
A Lagos State High Court has ordered Air Peace to respond to questions brought by the Foundation for Investigative Journalism in a libel suit No. LD/ADR/4833/23 filed by the airline on October 12, 2022, regarding its aircraft operations from Lagos to Anambra State.
Air Peace insisted that it followed safety standards and practices in accordance with relevant regulations and policies.
It questioned the FIJ’s interrogations of its aircraft and flight operations, calling them “scandalous and irrelevant” to the libel case.
FIJ was dissatisfied with Air Peace’s responses to the queries and filed an application to compel them to adequately explain the objections.
Justice Kudiarat Jose upheld the argument of FIJ, represented by its counsel, Abimbola Ojenike and Jesulayomi Oyelami of Slingstone LP, stating that the questions requesting the details of the first two aircraft designated to convey passengers were relevant to the facts in issue, related to the defendant’s case, and capable of proving that the defendants were correct.
As a result, the court ordered Air Peace to respond to questions 1, 4, and 7 of the defendant’s interrogation within seven days of receiving the order.
The questions are: ‘Provide a comprehensive description and specification of the aircraft 5N-BUL initially scheduled for the operation of Flight P47336 on October 12, 2022. The description should include the make, year, engine type, and service information, including the most recent aircraft maintenance checks conducted prior to Flight P47336 on October 12, 2022, particularly but not limited to any faults or repairs on the systems.’
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The airline is also to: ‘Provide comprehensive specifications of the technical issues discovered in the course of operation of Flight P47336 and the circumstances that led to the change of the aircraft from 5N-BUL to 5N-BQQ.’
The court also ordered the airline to: ‘Provide the comprehensive descriptions and specifications of the aircraft 5N-BQQ initially onboard the passengers for the operation of Flight P47336 on October 12, 2022.
‘The description should include make, year, engine type, and service information, including the most recent aircraft maintenance checks conducted prior to Flight P47336 on October 12, 2022, particularly but not limited to any faults or repairs on the systems.
The claim was deferred until May 23, 2024, for additional proceedings.
In October 2022, FIJ stated that passengers on an Air Peace flight from Lagos to Anambra escaped death after the engine failed three times at the takeoff point.
According to FIJ, the aircraft was supposed to take off at 11 a.m. but was delayed for two hours when the airline’s management announced that the jet originally booked for the Anambra flight had suddenly acquired an issue.
“The engine stopped three times, and there was no explanation until passengers asked to be allowed to leave the plane. The captain only gave a vague explanation when the passengers expressed their concerns. He said the DAC or something similar to that went off on us,” FIJ had quoted one of three sources as saying.
“This was supposed to be a substitute plane as the first couldn’t be used for technical reasons. If this lackadaisical attitude continues, I fear they may record a crash soon. If we had flown today, we likely would have crashed.”
Air Peace then filed legal action against FIJ, seeking N50 million in damages, N250 million in aggravated damages, and N5 million in legal fees.
Air Peace gets court order to answer queries on aircraft operations
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