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Oduduwa university sealed over alleged tax evasion
07/04/2014 18:43
A statement by Femi Balogun, senior special assistant to the Osun State governor, indicates that the Oduduwa University, a private tertiary institution in Ipetumodu, Osun State, has been sealed off over non-remittance of N173million income tax.
Balogun said, “The tax liabilities covered back duty liability from 2006-2011 and the enforcement is the last stage of any tax process, which is in line with Section 104 sub section (1) and (2) of personnel income tax act as amended.
"Tax payment is a law and a civic responsibility of all sundries; it is through this effort that government provides massive infrastructural development, security and other amenities.
"The Revenue Department will stop at nothing to ensure that every individual performs his civic obligations.
"We have commenced the general enforcement on all corporate tax defaulters and within the next few days, the enforcement team will visit all tax defaulters.
"We have on our radar corporate institutions like banks owing back duty of withholding tax on bank interest and some other companies that are recalcitrant in fulfilling tax obligations.
"It is important to urge all tax payers and companies with outstanding tax liabilities to resolve their tax issues to avoid embarrassment."
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