Lagos to shut down headquarters of tax-defaulting companies

by AljazirahNigeria | November 13, 2017 5:00 am

The Lagos state government has said it will shut down the corporate headquarters of organisations who have defaulted in remitting statutory taxes.

Akinyemi Ashade, the commissioner for finance, said the process will begin on Monday, November 20.

In a statement on Sunday, Ashade said some banks have failed to remit statutory taxes including withholding taxes on bank interest for more than 10 years.

“All law-abiding corporate organisations are advised to adhere to this directive as the state government has given enough grace period for them to remit their taxes.

“The government will on Monday, November 20, commence the process of shutting down the headquarters of corporate organisations, including banks who have failed to remit statutory taxes to government coffers. It is in the interest of companies who are yet to remit their taxes to do so on or before Monday,” Ashade said.

“Prompt payment of tax will enable the government provide the necessary infrastructure and improve the standard of living of the people, but when people pay their taxes promptly, government is encouraged to do more.

“The administration of Governor Akinwunmi Ambode has shown in the last two and half years that taxes paid are judiciously spent on projects that have impacted positively on the lives of Lagos citizens.”

The Lagos state government had last week directed all its revenue agencies to enforce tax payments.

[1]

WhatsApp

follow us on twitter @aljazirahnewsng[2]
Like us on Facebook @aljazirahnewsng[3]

Share This:

Related Posts

Nigeria records fall in infant mortality The fifth Multiple Indicator Cluster Survey (MICS) has highlighted a nationwide overall drop in infant mortality rate from 97 per 1000 live births recorded in 2011 to 70 per 1000 live births. The survey was jointly released by the National Bureau of Statistics (NBS) and the United Nations Childre...
Alleged Coup: Mugabe to meet army chiefs Embattled President Robert Mugabe will meet on Sunday with the army chiefs who took over Zimbabwe in a bid to end the crisis that has gripped the nation, state TV said. “President Robert Mugabe will meet the commander-elect of the Zimbabwe Defence Forces (on Sunday),” said the ZBC broadcaster, ...
Six killed in Borno bomb attacks – Police Six persons have died in bomb attacks which occurred early Saturday in Jere local government area of Borno state, the police have confirmed. Victor Isukwu, the state’s police command public relations officer, said two Boko Haram female suicide bombers detonated IED vests in the outskirts of Alaka...
PHOTOS: Tanker crashes into Onitsha-Nkpor flyover An accident has left a fuel tanker dangling off the Nkpor flyover, along Onitsha-Enugu expressway. TheCable learnt that the fuel tanker suffered a brake failure, tumbled and got stuck on the flyover. The incident happened on Saturday during the Anambra governorship election. Here are pictur...
Indian classical dancer crowned Miss World 2017 Indian representative, Manushi Chhillar, has won the 2017 Miss World beauty pageant. It is the first time an Indian will win the pageant in 17 years. Priyanka Chopra took home the coveted title in 2000. Chhillar competed against 108 aspiring beauty queens from across the world in China. She...
Anambra poll: Police arrest ‘two IPOB members’ Two suspected members of the Indigenous People of Biafra (IPOB) have been arrested by the police in Anambra. They were said to have attempted to disrupt the electoral process at the Ozugbe axis of Anambra East local government area. According to TVC, the duo, who had no form of identification ...
Public outcry: FG slashes State House clinic budget The Nigerian government has allocated N1.03 billion to the State House Medical Centre for its recurrent and capital expenditure in the 2018 budget estimates, representing a huge slash compared to the facility’s budgets in the last three years. According to the breakdown of the budget, the propose...
Journalists as endangered species By Yemi Esho, Abuja Nothing strengthens authority so much as silence – Leonardo da Vinci Journalists or the media by the nature of their job are exposed to various forms of danger. They want and must report the news to the editors in the office who work on it, finetune it and send it out for p...
FG budgets N158m for generator fuel at power ministry The Federal Government is proposing to spend a total of N158m for the maintenance and fuelling of generators at the Federal Ministry of Power, Works and Housing. According to the budget proposal for the ministry in the 2018 Appropriation Bill that is currently before the National Assembly, part o...
IFAD to support Sokoto communities on agriculture The International Fund For Agricultural Development (IFAD), in collaboration with the Federal Government, has concluded arrangements to support Community Development Associations to boost agricultural businesses in 17 local government areas of Sokoto State. The Country Programme Manager of IFAD, ...
Anambra: 37 aspirants battle for one seat Today, 37 candidates of various political parties will file out to test their strength and acceptance as the people of Anambra State go to the polls to elect their next governor. However, analysts believe that out of the 37 political parties, only  the All Progressives Grand Alliance  (APGA), All P...
Fayose to Buhari: Jail corrupt people in your govt Governor Ayodele Fayose of Ekiti State has told President Muhammadu Buhari to stop being hypocritical about his fight against corruption and rid his government of corrupt elements first, saying; “Someone needs to tell the President that Nigerians no longer believe in his anti-corruption fight becaus...
Nuts strengthens brain, preserves memory More and more studies are revealing that nuts are great for your health, with benefits ranging from better cardiovascular health to boosted memory and cognition. A new study has looked at the brainwaves triggered by nut consumption, and it found further evidence for their cognitive benefits. Rece...
Endnotes:
  1. [Image]: http://eplsummit.ng/
  2. @aljazirahnewsng: https://twitter.com/AljazirahnewsNG
  3. @aljazirahnewsng: https://web.facebook.com/aljazirahnewsng

Source URL: http://aljazirahnews.com/lagos-shut-headquarters-tax-defaulting-companies/