REPS Detects How FIRS Accepted Uncertified Capital Allowances Claims by Taxpayers

The House of Representatives Committee on Public Accounts was yesterday informed about how the Federal Inland Revenue Service (FIRS) accepted capital allowances claims by tax payers without certificate of acceptance from the ministry of trade and industries in 2019
This was contained in the 2019 Auditor General of the Federation’s queries to Ministries, Departments and Agencies (MDAs) of government
The Chairman of the committee, Oluwole Oke who presided over the hearing, lamented the level of external borrowings by the federal government, saying the committee’s probe of public funds was aimed at curtailing revenue leakages to boost government treasury
His statement was against the backdrop of alleged tax evasion by telecom service provider, MTN, whose current assets stands at N2.68 trillion in the country, yet does not have proof of customs duty over the years
The lawmakers condemned the issuance of an assets certificate by the Ministry of Trade and Investment to the telecommunication firm without first evaluating their assets
Following the failure of MTN’s representative to tender the relevant documents to buttress his position that the company was up to date, the committee resolved to write the Nigeria Customs Service (NCS) to furnish it with relevant documents including MTN duty permit so as to ascertain the total amount it owes government since 2001.

Leave a Reply

%d bloggers like this: