Kaduna (KDIRS) Seals Off All The Three Branches Of Access Bank:

Kaduna (KDIRS) Seals Off All The Three Branches Of Access Bank Over Unpaid 175,Million Naira Taxes:

Kaduna Internal Revenue Service (KDIRS) has shut three branches of Bank for non-compliance of N175 million Pay-As-You-Earn (PAYE) and withholding taxes.

KDIRS Secretary and Legal Adviser, Mr. Francis Kozah, said the bank branches were shut down following a judicial investigation carried between 2011 and 2016 that revealed the state was being shortchanged. Kozah added that the three branches of the bank would remain closed until they dig all taxes due to the state.

“We conducted a tax judicial investigation from 2011 to 2016 which revealed that Access Bank has not been remitting PAYE and withholding taxes, and we were able to create an unremitting liability of PAYE and withholding taxes of over N175 million within the period,” said Kozah.
(KDIRS) communicated to Access Bank the findings, and then made demand for payment and also held several meetings with the management of access bank ; but all to no avail they still couldn’t meet up with the payment. We were left with no other option, but to approach the court for a warrant to restrain the bank, and the court granted the order to seal off all the branches in the state.’’

He stated that corporate organisations, professional bodies, and business establishments in the state are expected to settle all tax issues or risk being shut down for long..
The Head of Enforcement for KDIRS,Ado Garba, said the agency was vetting tax records of corporate entities, and individuals, and that defaulters would be persecuted. He also stated that ..they are open to negotiation with Access Bank, but I assure you that we will only open the branches if they settle tax liabilities, including the N250,000 incurred in sealing the branches.
Executive Chairman, KDRIS, Zaid Abubakar( p.h.d holder). Also warned: “We will not continue to watch while businesses operating in the state sit on government money and will refuse to pay their taxes.”

The shut down of these branches branches of Access Bank has sent down panic to other banks in the state.

Also Read: Nigeria Debts Rocks From 20-25.7trillion

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