Why FIRS shut Alliance and General Insurance, others

The Federal Inland Revenue Services (FIRS) has said that its ongoing action of sealing offices of corporate originations, is aimed at ensuring compliance with tax rule of the federal government.

However, the FIRS maintained that before resulting to the action of sealing business premises, notices must have been sent and, and such action becomes inevitable where such notices are ignored.

The Federal Inland Revenue Service (FIRS) in continuation of its revenue drive through tax compliance last week Thursday, sealed offices of companies in Lagos, Delta and Imo States.

Mrs. Ruth Mandeun, leader of the team that sealed offices in Delta state was reported to have said that the companies ignored notices sent to them and failed to take advantage of the one-month window offered by the FIRS.

However, in Lagos, the FIRS team sealed the headquarter office of Alliance and General Insurance Company with a tax liability of about N2.4 billion; MYD Telecoms Company Limited which has a liability of N26 million and Brick and Cable Limited with a tax debt N155 million.

In Imo State FIRS was reported to have shut down the three offices with about N10.3 million tax debts

In Delta State capital, Asaba, the FIRS team shut the offices of the Delta Transport Service Limited and Grand Hotels Limited with tax liabilities of N243 million and N14 million respectively.