TAX EVASION: FG to seize, sell 2000 properties in Abuja

The Federal Inland Revenue Service (FIRS) has said that it will soon start to seize and sell properties in Abuja whose owners have been evading tax payment.

This was as the FIRS also disclosed that about N17 billion had been raised under the Federal Government’s Voluntary Assets and Income Declaration Scheme (VAIDS).

FIRS chairman, Mr. Tunde Fowler, made these revelations in Abuja on Thursday when he spoke a at a media training on VAIDS.

He said, “Since VAIDS was launched, we have seen over 2000 properties in Abuja that have ownership of corporate organizations that have not filed any tax, have not paid any tax.

“That is why we gave them notice that we will shortly be going to court, we will be seizing those properties and selling them to make up for the outstanding tax and if there is any change, we will refund.”

On what the service has been able to raise under the scheme Fowler said, “We are still at the starting point. So far, less than five companies have paid the rate of N17 billion with another six billion that is expected to be paid by the end of December.

“So in terms of numbers, we still have not really got the type of crucial numbers that we are expecting. When we gave the tax amnesty last year, we had 2,700 corporate accounts that filed for it. Now we are talking of fewer than 10 companies that have come under VAIDS.

“There is still a lot more to be done, a lot of companies are asking questions, talking to consultants, and so we are expecting a whole lot more to come in as the programme progresses. In terms of the estimates that we expect from VAIDS, Minister of Finance, Mrs. Kemi Adeosun, said $1 billion, which is equivalent to about N325 billion will come from both naira and foreign investments.

“Of the N17 billion already paid, $50 million was paid in foreign exchange. So we are looking at both.”

Speaking on how the courts are going to handle issues that may arise at the end of the scheme, Fowler assured that the judges would do their duties objectively.

He said, “As per court cases, we will not influence the course of justice but we have given them information on VAIDS, we have given them information on tax because we have produced some tax books.

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‘’We believe that our judges will apply the law, not because they are Nigerians but because they are judges and sworn an oath to uphold the laws.

“So we are not trying to put them on our side because we want to increase revenues and every tax payer has opportunity to go to court and we believe that as long as we do our jobs the right way, we will most likely win our cases.

“So in term of sensitising the judges, we have given them information, and we believe that they will apply the information correctly and in the best interest of the nation.”

 

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