The Federal Inland Revenue Service (FIRS) in Nigeria may soon commence prosecution of taxpayers who are in default of any provisions of the relevant tax laws. The FIRS has issued a public notification to inform the general public. The FIRS will rely on the provisions of Section 49(2) of the FIRSEA to carry out these prosecutions. All relevant persons who have are or have been involved in managing the affairs of the defaulting organizations will also be prosecuted.
In these pictures, we have listed out some of the tax offences for your attention.
To avoid prosecutions and penalties, every taxpayer is advised to comply with the relevant tax laws.
What do you need to do?
- Ensure you deduct the correct taxes and remit correctly as required
- Ensure you compute and pay the correct taxes
- Ensure you file all tax returns as at when due
- Ensure that any information and declarations that you supply in any tax returns or forms are correct and complete
- Ensure that all supporting documents relating to taxable transactions are properly filed and readily available
- Ensure that you carry out a compliance audit periodically to evaluate our compliance level
- Ensure that figures are not falsified and account not window-dressed.
It is within the powers of the FIRS to prosecute tax offenders according to Section 47 of the FIRSEA provides that “the Service shall have powers to employ its own legal officers who shall have powers to prosecute any offences under this Act subject to the powers of the Attorney-General of the Federation”.
Thanks for coming around. You may want to read Types of Tax Audits carried out by the Federal Inland Revenue Service (FIRS) in Nigeria
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