Lagos State Government Shuts Down 34 Companies Over N356M Tax Debts

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Gov Sanwo olu

Gov Babajide Sanwo Olu

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Thirty-four corporate organisations have been shut down by the Lagos State government for failing to remit Personal Income Taxes of their employees as well as non-remittance of Consumption Taxes, amounting to N356.12 million by operators in the hospitality sector, to the State government.

According to the Lagos State Internal Revenue Service (LIRS), some of these companies include: NTS Nigeria Ltd., Med-In Hospital & Pharma Services Ltd., Danvic Petroleum Int’l Ltd., Business Intelligence Technology, Avaya Nigeria Ltd., Gladstone Tech Ltd., Courier Plus Services Ltd., Kurioucity Ltd., Medilag Ventures Ltd., Future Oilfields, and Seven Six & Ten Limited.

Also, 23 hotels, restaurants, and event facilities were also closed for failure to deduct and remit Consumption taxes. These businesses include; Blitz Suites & Hotel, Offshoroomz Hotel, God’s Grace Hotel, De Orange Place Ltd., De Santos Hotel, Kentade Hotel Limited, Chamcee, Chelsea Suites, Falode Hotels, High Climax Hotel, Chez Moi Apartment, Excellence Hotel, Bereans Venture (Tantalizer Ebute Metta), La Avril Hotel & Suites, De Orange Place Ltd., Milaco Guest House, New World Inn, Model Motels Ltd, Rely Maritime Ltd, 4 Seasons Hotel, Dream Land Hotel, 343 North Restaurant and Lounge, and Jade Palace Chinese Restaurant.

The LIRS director of Legal Services, Mr. Seyi Alade, during  a state-wide tax law enforcement exercise conducted by the Service in Lagos on Monday, said that the tax liabilities of these companies and hotels amounted to more than N356.12 million, saying, their actions have caused the State government loss of revenue.

He explained that the agency had previously reduced its enforcement activities to promote voluntary compliance by taxpayers. However, he said, certain companies and hotels chose to engage in tax evasion, adding that the renewed enforcement activities of the Service are targeted at such companies, restaurants, hotels, and event centres.

Alade said that, “these companies deduct Personal Income taxes from their employees’ salaries at the end of each month, and charge consumption taxes on goods and services purchased by customers.

“Unfortunately, some unpatriotic firms choose to withhold these payments, illegally converting the funds for their own use.”
 

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