Connect with us

    Hi, what are you looking for?

    News

    FIRS Files Tax Evasion Charges Against Well Property Development Company Limited

    FIRS

    Federal Government, represented by the FIRS, has initiated a six-count charge against Well Property Development Company Limited.

    According to documents obtained exclusively by Ravenewsonline, the charges include the understatement of tax returns, false declaration of earnings, and failure to deduct and remit appropriate taxes.

    The case, filed in the Federal High Court in Abuja, is marked FHC/ABJ/CR/293/2024 and dated June 21, 2024. It lists the Federal Republic of Nigeria as the complainant, with Well Property Development Company Limited and nine individuals named as defendants.

    This legal action highlights the government’s commitment to pursuing potential tax fraud and evasion, particularly in the real estate development sector.

    The charges follow an extensive investigation into the company’s financial activities and tax filings. The investigation revealed discrepancies that prompted the FIRS to take formal legal steps.

    This case serves as a warning to other corporate entities about the importance of accurate tax reporting and compliance with tax laws.

    The government’s actions through the FIRS signal a broader initiative to strengthen tax enforcement and increase accountability among businesses.

    As the case proceeds, it will likely set a precedent for how similar cases of tax evasion are handled in the future, reinforcing the importance of tax compliance in Nigeria’s corporate sector.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    Bill Gates, Chair of the Bill & Melinda Gates Foundation, has called on global leaders to make bold choices that could save millions of...

    News

    South Korea has opened a criminal trial for Kim Keon Hee, the wife of impeached former president Yoon Suk Yeol, marking the first time...

    News

    Mayor of London, Sadiq Khan has strongly condemned Donald Trump after the US President used a speech at the United Nations to launch a...

    Health

    Trump made the announcement on Monday, September 22, in the Oval Office alongside Health Secretary Robert F Kennedy Jr, who said the FDA will...