N25bn Tax Fraud: Akwa State Government To Sue Total E&P Nigeria Limited For Unpaid Tax
The State government of Akwa Ibom is set to sue Total E&P Nigeria Limited for their inability to pay the total sum of tax liability up to N25bn – PUNCH Reports.
Recently, Some banks including foreign and local banks but led by Access Bank Nigeria Plc has taken over Etisalat Nigeria Group due to their inability to pay debts worth N541.8bn and a day after the news surfaced the internet, the news of Akwa Ibom and Total Nigeria Limited followed.
According to the PUNCH, the Akwa Ibom State’s Internal Revenue Service, IRS has made a final decision on dragging the Total E&P to the court of law until they settled the tax liabilities of N25bn on them.
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Eyo Bassey who is a revenue consultant to Akwa Ibom state government has said that the state government is giving just seven (7 – a week) ultimatum to Total Nigeria Limited to pay up the tax liabilities on them.
Mr Eyo Bassey said:
- “The Akwa State government have given Total E&P Nigeria Limited from now a 7-day ultimatum to pay up the liabilities or face the consequences of its increasing defaults of the state revenue laws.
- The Total E&P Nigeria Limited have rejected some mutual efforts to settlement of the liability by the state government, and this has offered the state no alternative option than to take a legal step toward prosecuting the oil giant for its serial tax default to the state government.