“NNPC Owes over $300million in Taxes” – FIRS

The Chairman of the Federal Inland Revenue Service, FIRS, Babatunde Fowler, has stated that the Nigerian National Petroleum Corporation, NNPC, is owing over $300 million in tax arrears.

Fowler, while speaking on Wednesday, April 20 before the Michael Enyong Okon headed Adhoc Committee Investigating the FIRS’ accounting procedure, said the computation of the outstanding was done by the NNPC itself.

On NNPC’s non-compliance with the issue of tax return, he said all unresolved matters will be sorted out at the conclusion of the ongoing audit exercise, adding that the FIRS should have a proper assessment at the end of the audit of the NNPC in June.

He said: “On the taxable profits of companies, (under NNPC), I cannot give any specific information regarding the amount until the audit report for last year is ready for assessment.”

He however said the Corporation has promised to get back to the Agency with a plan on how to defray the outstanding, stating that the self-assessment by companies as done by the NNPC was not final.

“We are also deploying a system where all outstanding taxes owed by companies are recalled using automated platform. Right now, many companies, on the basis of that are doing self-assessment and have promised to remit all outstanding Value Added Tax (VAT) owed.


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