The Chairman of Federal Inland Revenue Service, Babatunde Fowler said the properties had been identified, adding that the FIRS planned to secure court orders to sell them off. “We would sell off the 2,000 properties and give the companies the change after deducting what belonged to the government as tax,” he said at a media workshop on VAIDS held by the FIRS on Thursday in Abuja. Fowler noted that the defaulting companies would also be penalized for withholding the tax due to the government, adding that about N17 billion had been paid by 10 firms since the introduction of VAIDS in July this year. He stated that many more corporate organizations were expected to comply with VAIDS before the nine-month grace period expires in March next year.]]>

"Exciting news! TheNigeriaLawyer is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest legal insights!" Click here! ....................................................................................................................... Unauthorized use and/or duplication of this material and other digital content on this website, in whole or in part, without express and written permission from TheNigeriaLawyer, is strictly prohibited _________________________________________________________________ [Register Now] ILA Nigeria Branch Marks 10 Years With Infrastructure Financing As Theme For 7th Annual Conference The International Law Association - Nigeria Branch 7th annual conference on public-private partnerships for sustainable infrastructure financing, April 4-5 in Abuja. Details: https://ilanigeria.org.ng/conference _________________________________________________________________

NIALS' Compendia Series: Your One-Stop Solution For Navigating Nigerian Laws (2004-2023)

Email: info@nials.edu.ng, tugomak@yahoo.co.uk, Contact: For Inquiry and information, kindly contact, NIALS Director of Marketing: +2348074128732, +2348100363602.