The Board of Internal Revenue Service in Abia State has sealed some companies within the state for withholding tax on interest, running into millions of Naira meant for the state’s Internal Revenue Service.
Based on the PAYEE Tax audit report, one of the defaulters, National Cereal Research Institute, has failed to remit tax of 25.578 million Naira due to the Abia State Revenue Service.
According to the Executive Chairman of Abia State Internal Revenue Service, Udochukwu Ogbonna, the sealing of the premises was done in accordance with the Abia State Board of Internal Revenue Law.
Mr Ogbonna further told reporters that the agency had issued several demand notice to the management of the institute.
“The premises will only be unsealed if the companies pay 30% of the total amount they are owing,” he stressed.
Meanwhile, other premises sealed include Millian Nigeria Limited for tax defaulting of 5.375 million Naira and Ifeanyichukwu Ugwu for failure to remit tax payment of 3.765 million Naira.