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Nairaland Forum / Nairaland / General / Politics / LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS (5956 Views)
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LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Onyemadonald(m): 7:37am On Feb 12, 2019 |
The Lagos Chamber of Commerce & Industry (LCCI) has yesterday expressed concern over reports by corporate bodies that their accounts were being frozen and debited by the Federal Inland Revenue Service (FIRS) because of tax defaults. Its Director-General of LCCI, Mr. Muda Yusuf, in a statement, said the FIRS derives its powers from section 31 of the FIRS Act that gave it powers to appoint collection agents for the recovery of tax payable by the taxpayer. He said though LCCI is a strong proponent of regulatory compliance by private sector players it is however, important to note 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. He further noted that “Taxpayers should be given ample opportunity to defend their positions on tax matters before a lien is placed on their bank accounts. There are instances where company accounts were frozen in error because there was no proper engagement, documentation or communication with the tax payers. SOURCE: https://www.trendingaccounting.com/2019/02/lcci-faults-freezing-of-tax-defaulters.html 2 Likes
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Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by SalamRushdie: 7:40am On Feb 12, 2019 |
Another attempt by the Dullard to kill the already struggling private sector 19 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by dante0147: 7:47am On Feb 12, 2019 |
Buhari is just helpless now.... Someone that went to borrow money from pensioners account very stupid 11 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by deboysben(m): 7:47am On Feb 12, 2019 |
While passing through the Abuja Airport road you will notice: City gate built by IBB National stadium built by OBJ 10-lane airport road by Yar'adua Rehabilitation and expansion of the airport road done by GEJ Giant size broom built by PMB Vote wisely on saturday. 13 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by nairalandfreak(m): 7:47am On Feb 12, 2019 |
Slay people won’t comment on a thread like this because they don’t understand. 5 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by MrGreenMavro: 7:48am On Feb 12, 2019 |
Ok |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Yankee101: 7:52am On Feb 12, 2019 |
You go to court not debit their account Laws allow for tax deferment Not all items sold are really sold, some are returned. And not all excess cash left over is profit. You must calculate your expenses first. Etc. So you can't arbitrarily deduct people's account When we say Buhari govt has killed investment in Nigeria people won't understand 17 Likes 1 Share |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mekaboy(m): 7:54am On Feb 12, 2019 |
Hmmmm. All to promote a cabal driven economy. 2 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mrvitalis(m): 7:56am On Feb 12, 2019 |
SalamRushdie:Are u normal? 1 Like |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mrvitalis(m): 7:56am On Feb 12, 2019 |
Yankee101:Try it in America 3 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by SalamRushdie: 7:57am On Feb 12, 2019 |
mrvitalis: Oga this is above your brain grade so will not understand ..Go and read what the LCCI has said again .. 11 Likes 1 Share |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by don4real18(m): 7:59am On Feb 12, 2019 |
Debiting their account is wrong 8 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by itiswellandwell: 8:01am On Feb 12, 2019 |
Not good enough. Someone money cannot be in bank in peace again. How were they even able to determine the right amount to deduct for tax because they do not have an idea of what the funds are meant for. They deduct any amount they like.. 8GB Atm card flash drive for #1000 only. Check link https://www.nairaland.com/4972442/clearance-sales- quality-8gb-atm 4 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Yankee101: 8:09am On Feb 12, 2019 |
mrvitalis: I live in America I can defer my company taxes for years or reinvest it I can make a payment arrangement of 4 years with the IRS I can have deductions of past business losses from total tax due 12 Likes 1 Share |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mrvitalis(m): 8:11am On Feb 12, 2019 |
Yankee101:When u go broke ...what happens when ur money is almost same as your owed tax 1 Like |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by zicoraads: 8:12am On Feb 12, 2019 |
They froze ours unannounced. It caused a lot of issues for us. 5 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by 989900: 8:12am On Feb 12, 2019 |
Wrong, very wrong. 6 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Ovamboland(m): 8:14am On Feb 12, 2019 |
mrvitalis: Wesley Snipes was running all over the world looking for asylum and came even as far as Nigeria. He eventually had to go back to America to answer for his crime. Did he murder someone or rob at gun point, no. All he did was evade paying his taxes. In Nigeria we abuse anyone attempting to enforce tax laws and reward defaulters with presidency, and other responsibilities. We pity the tax evaders because we see them as stealing from the government not from us. We then turn around to complain of bad roads, no good health system and low quality public education 4 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by damola1: 8:18am On Feb 12, 2019 |
They froze ours o... Na sacking sure pass! 2 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Yankee101: 8:18am On Feb 12, 2019 |
mrvitalis: You get demand letters, negotiated settlements, payment plans etc... If you don't act then garnishment takes place. Read about Mayweather asking them to wait to get paid after a future fight etc. 7 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mfm04622: 8:19am On Feb 12, 2019 |
dante0147: Money with Pension Funds are supposed to be invested by the Pension Fund Custodians! They on their own invest it in Treasury Bills because it is safe and the return is good! Stop parading your ignorance on the internet! |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by Eluala(m): 8:19am On Feb 12, 2019 |
Every agency of government is now operating their own laws. When you have a lawless leader who thrashes the concept of rule of law, this is what you get. All in a bid to make a political statement of achieving high tax revenues, just look at this kind of behavior and tell me if you were a fund manager in New York looking at emerging markets, will this Nigeria be your destination under this government? 5 Likes |
Re: LCCI Faults Freezing Of ‘tax Defaulters’ Bank Accounts’ By FIRS by mfm04622: 8:20am On Feb 12, 2019 |
damola1: Go and pay your taxes! You can't be complaining of poor infrastructure and not paying taxes that govt need to find infrastructure |
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