The Federal Inland Revenue Service (FIRS) has arrested eight management staff of companies in Ondo State over their failure to pay the company income tax and remit the Value Added Tax (VAT) of their companies to the coffers of the government.
It listed the offences of the companies to include the refusal of the companies to register for VAT, failure to file returns for VAT and the inability to pay companies income tax.
Some of the companies are owned by the State government while others are owned by corporate and private individuals in the state.
The Head of Legal of FIRS, Southwest geo-political zone, Mr Daniel Onukun who led the recovery enforcement for two days said the state government was owing the Federal government about N100million.
Also, he said about N1million was recovered from some companies who came to pay to avoid being arraigned in the court of law for tax default.
He said there was dwindling revenue from oil due to oil theft and the fall of price in the international market, thereby leading to shortfall in government revenue.
He said in the past few years, the only means of income to the federation account was from oil but the fall in oil price in international market has made the government to look inward and source for fund to finance budget and government commitment.
According to him, the state owned Owena Motels owed N44million while the state owned medium owed N13million.
Others included BOMACK, Integrity foams, Uwa and Bros and Adelak Hotels. Onukun said some of the management staff of the companies have made commitment to pay their debts installmentally, saying those who refused to honour the agreement would be prosecuted in the court of law.
He added that henceforth, the Federal Government would unleash its machinery to ensure that all tax invaders are brought to book as government cannot continue to rely on oil as the only means of livelihood for the nation.
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