EIRS seals off Market Square over non remittance of N27m tax

From Ighomuaye Lucky, Benin

The Edo State Internal Revenue Service (EIRS), has sealed off the premises of Market Square (Sunday Foods) for non-payment of taxes amounting to N27,005,117.97 (Twenty-Seven Million, Five Thousand, One Hundred and Seventeen Naira, Ninety-Seven Kobo Only).

This was disclosed in a statement made available to newsmen in Benin by the agency’s ACTI Head, Corporate Communications, Courage Eboigbe.

He said the outstanding sum is the result of an audit exercise conducted by the EIRS on Market Square, covering the period from 2018 to 2023 for Pay-As-You-Earn (PAYE) and Withholding Tax liabilities.

Eboigbe said the audit findings and subsequent tax assessment were communicated to the company adding that Market Square did not object to this assessment as it became final and conclusive.

He said following the company’s refusal to settle its debt, the Revenue Service has now, pursuant to a Court Order, sealed the premises to recover the outstanding tax due to the Edo state government.

He said the EIRS is prepared to unseal the premises immediately upon confirmation of full payment.

According to him “Payment of taxes is a fundamental civic responsibility for all individuals and organizations engaged in economic activities in Edo State.

“Tax revenue is essential for the government to provide critical infrastructure and services for the public good.

“Tax compliance significantly enhances business operations and upholds a positive corporate image.

“The EIRS appreciates all compliant taxpayers and urges others to meet their tax obligations promptly”.