Breaking News

Edo seals off NBC branches over alleged N83m withheld taxes


BENIN-THE Edo State Government, yesterday, sealed off all branches of the Nigeria Bottling Company Plc, over alleged failure of the management of the company to remit Pay As You Earn, PAYE,  and withholding taxes of over N83million to the state government.

This came as the state government also vowed to prosecute all those whose vehicle licenses are not up to date in mobile courts, warning that tax defaulters would no longer be spared in the state.

The Permanent Secretary of the state Board of Internal Revenue, Mr Sunday Okundia, who spoke to newsmen in Benin City, shortly after the board sealed up the premises of the Bottling Company, said the Board decided to close down the company after the management failed to respond to the notice of tax liability served on the company.

“The Board had carried out a statutory tax audit on the company to ascertain the extent of their liabilities and at the end of the exercise, the Tax Audit Report and a Demand Notice for the payment of the outstanding taxes were sent out to the company.
“Upon the expiration of the stipulated deadline, the Board invoked its powers as enshrined in the Personal Income Tax Act of 1993,” he added.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.