The North Central Zone Tax Appeal Tribunal, sitting in Jos, on Thursday ordered the Jos International Breweries PLC and Gains Micro-Finance Bank Ltd to pay a total sum of N29.3 million to the Federal Inland Revenue Service.
The aforementioned companies were ordered to pay the stated sum having been found guilty of tax evasion by the Tribunal.
Out of the total sum, Jos International Breweries Plc is to pay the sum of N26.1 million as company income tax owed by the company, while Gains Micro-Finance Bank Ltd is to pay N3.2 million as penalty and interest owed by the bank.
The Tribunal presided by Abraham N. Yisa, who is also the Coordinating Chairman of all the Zonal Tax Appeal Tribunals in Nigeria passed this verdict at its sitting held at the Tribunal Premises in Jos.
It would be recalled that the FIRS had dragged the two Companies before the Tribunal in 2013 having defaulted taxes remittance.
Delivering the judgement, Hon. Yisa stated that in giving the judgment, the Tribunal was invoking its powers under “Paragraph 15 (8) of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007.
Comments