The Federal Inland Revenue Service , has filed criminal charges bordering on tax evasion against Well Property Development Company Limited at a federal high court in Abuja.lateTheCable understands that the federal government, through the FIRS, is launching a clampdown on companies evading taxes across the country.
The charges are failure to file correct and complete income tax returns in the prescribed form and manner for the purpose of paying relevant tax administered by FIRS — “an offence punishable under Section 55 of the companies income tax Act as amended”. Moreso, the firm is charged for willfully and unlawfully evading the assessment, payment and remittance of tax due and payable to the federal government, an offence punishable under Section 26 of the VATFIRS said Wells Property also failed to deduct and remit all relevant taxes, which is an offence punishable under Section 40 of the FIRS Establishment Act 2007.
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