FIRS to hold principal officers of companies responsible for non-compliance

   

    The Federal Inland Revenue Service (FIRS) has again issued a public notice to remind companies of their obligations to file tax returns and to do so on time (within 6 months of financial year end date). Those that are in default for past years are also required to bring their filing up to date in all cases within 14 days from today. FIRS threatens to hold principal officers of defaulting companies personally liable which may include fines and imprisonment.

     The FIRS has been posting "non-compliance stickers" in the office premises of companies considered to be in default of timely filing of returns or payment of taxes. Such stickers may not be removed without the approval of the FIRS Chairman after such defaults have been rectified.

   The clamp down by FIRS against tax evaders is getting way serious,so every company and individual are mandatorily obliged in this scenerio to comply 100%.No other choice than to comply or face the music which is not an entertaining one in this case.View the non compliance sticker after the cut;