The Executive Chairman of the Kaduna State Internal Revenue Service (KADIRS), Zaid Abubakar yesterday disclosed that the agency sealed-off three branches of the First City Monument Bank (FCMB) and Keystone Bank in Kaduna over N295 million tax labilities.
The enforcement team of the agency led by the Head of Enforcement, Ado Usman Garba in the early hours of Tuesday morning sealed-off the banks located in Sabon Tasha, Ali Akilu, Bank Road and Yakubu Gowon Way.
Our correspondent reports that FCMB owes over N72m while Keystone owes N220m between 2007, 2016 and 2018.
The chairman who briefed pressmen after the raid said the banks had been served with several notices of non-compliance and non-remittance of Pay As You Earn (PAYE) and withholding tax to no avail.
“We served eight notices to FCMB and two to Keystone bank, but they were not forthcoming on the payment.
“The only option available to us based on Section 104 of Personal Income Service as well as Section 36 of Kaduna State Qualification and Consultation law is to move to the next phase of the collection process which is a force evict.”
He noted that the next line of action is for the banks to come forward and pay the liabilities and where they fail to do that within the next 14 days, “The agency will move to the next phase of the law possibly recovering our money from the assets.”
He advised other companies who have similar cases to reconcile their tax or liabilities.
“In as much as the liabilities are established and it is found to be genuine, they have no other option but to pay.”