Business

Lagos shuts 16 firms over unpaid taxes

Published

3 years ago

July 20, 2021

Sixteen corporate organisations and hospitality firms in Lagos have come under the hammer of the state internal revenue service over unpaid consumption taxes between 2013 and 2020.
The LIRS said the firmed were shut on Monday during the state-wide tax enforcement.
It said the firms sealed are restaurants, hotels and guest houses.
The affected firms are Café Trance, Maple Cottage, Imperial Chinese Cuisine, New World Inn, Inspiro Galaria, Grace Garden Event, Cristabol Place, Queens Park Event Centre, Axor Suites and Blue Moon Hotel, according to News Agency of Nigeria.
Others are Citi View Hotel, Kamal’s Crib, 7th Heaven and Infinity Platinum Bar and Restaurant.
In March 2021, the LIRS had issued a public notice to clarify definitions of terms hotels, event centres and restaurants in Section 17 of the Hotel Occupancy & Restaurant Consumption (HORC) Law 2009 and the compliance obligations of their owners for consumption tax.
In the same month, it announced March 31 as a deadline for taxpayers in Lagos to clear outstanding tax owed to the state government.
The deadline was extended to April 14 in response to taxpayers’ appeals and as a measure to mitigate the COVID-19 pandemic impact.
The LIRS legal services director, Seyi Alade, said the state tax agency had resolved to wield the stick on defaulters who insist on short-changing the state government, adding that the 16 firms failed to meet up with the March 31 deadline.
“Now, the service has resumed sealing of firms, particularly the hospitality firms; it is committed to continue the exercise until full compliance to tax payment and remittance are achieved,” he said.
“Before LIRS embarks on sealing, it must send two letters to the management of the affected firm, reminding it of tax liabilities.
“Both the demand notice and letter of intention to distrain were sent to the management of the hospitality firms, but they failed to act.
Alade said the LIRS is deploying an aggressive approach to ensure that all taxes are collected to help the state carry out its developmental projects.
He added that the agency was profiling both individuals and corporate entities daily to get more people into the tax net and asked companies to comply by remitting up-to-date tax payments.

Business

Naira depreciates again, trades at N1,402/$

Published

4 hours ago

May 3, 2024

Trends Admin

Naira depreciates again, trades at N1,402/$

The Nigerian currency, naira, on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71

Naira depreciates again, trades at N1,402/$

Auto

Appeal court takes over NURTW case as NIC withdraws

Published

2 days ago

May 1, 2024

Trends Admin

Appeal court takes over NURTW case as NIC withdraws

The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.

The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.

Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.

The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.

The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.

Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.

With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.

Business

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Published

2 days ago

May 1, 2024

Trends Admin

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Despite the intervention of the CCPT, Multichoice Limited has proceeded to increase packages price for DSTV and GOTV as announce on Wednesday last week.

Newstrends had earlier reported that the corporation announced that the new rates will go into effect on Wednesday, May 1, 2024, in a statement.

Meanwhile, on Monday, MultiChoice Nigeria Limited was ordered by the Competition and Consumer Protection Tribunal (CCPT) in Abuja to suspend the planned prices and tariffs hike on packages and services.