The House of Representatives has mandated its committees to investigate the non-remittance of N5 trillion to the Federal Government by some businesses operating in Nigeria. The decision to go after the tax defaulters followed the adoption of a motion moved by Esosa Iyawe on Thursday during plenary. The House resolved to mandate the Committees on Public Account and Finance to probe the non-remittance by the organizations and recover the money owed the government.
The House of Representatives has mandated its committees to investigate the non-remittance of N5 trillion to the Federal Government by some businesses operating in Nigeria . The decision to go after the tax defaulters followed the adoption of a motion moved by Esosa Iyawe on Thursday during plenary. The House resolved to mandate the Committees on Public Account and Finance to probe the non-remittance by the organizations and recover the money owed the government.
Moving the motion, Iyawe said 5,000 companies owe the Federal Government N5.2 trillion between 2015 and 2019. He said that there is another report stating that in 2021, some companies failed to remit over N17 billion. “Audit reports from 2015 to 2019 which revealed government agencies owing hundreds of billions in FIRS taxes comprising underpayments and under-recoveries and over 5,000 Companies and Ministries, Departments and Agencies (MDAs) of the Federal Government owing (N5.2 Trillion) (five trillion, two hundred billion, Naira in withholding taxes,” he sai
House Of Representatives Investigate Non-Remittance N5 Trillion Businesses Nigeria Tax Defaulters Esosa Iyawe Government Committees On Public Account Finance Probe Recover Owed Money