{"id":76885,"date":"2021-08-31T08:20:38","date_gmt":"2021-08-31T07:20:38","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=76885"},"modified":"2021-08-31T08:22:56","modified_gmt":"2021-08-31T07:22:56","slug":"kaduna-seals-four-banks-over-n300-5m-unpaid-taxes","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/08\/31\/kaduna-seals-four-banks-over-n300-5m-unpaid-taxes\/","title":{"rendered":"Kaduna seals four banks over \u2018N300.5m unpaid taxes\u2019"},"content":{"rendered":"<p>The head offices and other branches of four commerical banks within Kaduna have been sealed by the state Inland Revenue Service (KADIRS) over alleged N300.5 million tax liabilities.<\/p>\n<p>This was disclosed by the KADIRS executive chairman, Zaid Abubakar during a press briefing in Kaduna on Monday.<\/p>\n<p>According to NAN report,<span data-preserver-spaces=\"true\">\u00a0the affected institutions include: First Bank, Access Bank, Guarantee Trust Bank (GTBank), and Sterling Bank.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Abubakar said the N300.5 million was arrears of taxes payable on masts, towers, and very small aperture terminals (VSAT) between 1999 to 2020.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to him, the tax liability of First Bank was N132.6 million, Access Bank (N84.1 million), GTBank (N23.5 million), and Sterling Bank (N60.3 million).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the exercise carried out by the agency is in line with section 104 of the Personal Income Tax Act.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe have sent demand notices several times as required by law, but the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/08\/20\/report-fraudulent-election-financing-and-forex-malpractices-efcc-tells-banks\/\">banks<\/a> refused to come forward to pay taxes due to the state,\u201d Abubakar said.<\/span><\/p>\n<div>\n<p><span data-preserver-spaces=\"true\">\u201cFor example, we have sent six notices to First Bank, four each to GTB, Access Bank and Sterling Bank.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cKADIRS is left with no choice but to seal up the banks\u2019 branches.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThere is, however, a positive response from the affected banks. They have made part payment and signed commitments to settle the outstanding.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Abubakar further asked all business owners within Kaduna to comply with relevant tax laws and pay all taxes due to the state to avoid being sealed off.<\/span><\/p>\n<p>Recall that KADRIS in July had sealed four branches of Fidelity Bank in Kaduna<span data-preserver-spaces=\"true\">\u00a0over N43.30 million tax liability between 2011 and 2020.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The head offices and other branches of four commerical banks within Kaduna have been sealed by the state Inland Revenue Service (KADIRS) over alleged N300.5 million tax liabilities. This was disclosed by the KADIRS executive chairman, Zaid Abubakar during a press briefing in Kaduna on Monday. According to NAN report,\u00a0the affected institutions include: First Bank, [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":76900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[16909,2602,348,16910,12856],"class_list":["post-76885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-kadirs","tag-banks","tag-kaduna-state","tag-n300-5-million-tax-liabilities","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kaduna seals four banks over \u2018N300.5m unpaid taxes\u2019<\/title>\n<meta name=\"description\" content=\"The head offices and 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