Nigeria In One Minute
You Can’t Freeze Bank Accounts of Tax Defaulters, LCCI Tells FIRS
The Lagos Chamber of Commerce and Industry (LCCI) has described the decision of the Federal Inland Revenue Service (FIRS) to freeze accounts of taxpayers, considered to be in default of tax payment, as an act of intimidation.
FIRS had written to select banks as collecting agents with a mandate to subsequently freeze the accounts of defaulters. Such accounts will be debited to the tune of the alleged tax debt.
Reacting to this development, the LCCI, through its Director General, Muda Yusuf, told THISDAY that tax administration should be in consonance with the basic tenets of the rule of law and the fundamental principles of a good tax system.
It added that tax administration should be consistent with the basic principles of equity, fairness, legality and accountability.
THISDAY, August 22, 2018
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