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LASACO Assurance denies owing N278.5m tax

By Rosemary Onuoha

LASACO Assurance Plc has denied owing N278.5 million tax liability as claimed by the Federal Inland Revenue Service, FIRS, saying the Federal Government agency erred in its judgment by sealing off the office and putting the company in bad light.

However, at a briefing in Lagos yesterday, Managing Director, LASACO Assurance, Mr. Segun Balogun, commended “the tax authority for retracing its action by unsealing our premises immediately they reconciled their account and found out the true position that we are not owing and neither are we in the class of tax evaders.

“We assure all our customers and the general public of our commitment to running a responsible and credible organisation positioned to meet your insurance needs at all times.”

He said contrary to FIRS’ claims that LASACO Assurance was owing from 2012 to 2016, it had paid its taxes from 2012 to 2015, and was contesting the 2016 taxes and payment on self-assessment basis, at the time FIRS was sealing off its office on Monday.

Balogun said, “FIRS officials stormed our office on Monday, 27th of November, 2017 and forcefully sealed our Corporate Head Office on Acme Road, Ogba, Ikeja, Lagos on a wrong claim that we owe tax. The said officials came without prior notice and sealed the office with a claim that we owe tax liability from 2012 to 2016 to the tune of N278.5m. And all our attempts to make them reason that we were not owing proved abortive even as we showed them evidences of full payments for the reconciled 2012 -2015 taxes and payments on self-assessment basis for 2016.

 


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