EFCC to go after companies, individuals evading tax

The chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, said on Friday the commission would go after corporate organisations evading tax in the country.

Olukoyede, according to a statement posted on the EFCC’s X handle, stated this at a meeting with the management of the Chartered Institute of Taxation of Nigeria (CITN) led by its President, Mr. Samuel Agbeyi, in Abuja.

He stressed the need for both parties to research the activities of individuals and corporate entities evading tax in Nigeria.

Olukoyede described corporations and individuals defaulting on the payment of tax as threats to the country’s growth and development.

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He said: “There is a need for us to conduct more research, knowing fully well that if we examine the percentage of people paying tax in Nigeria compared to our GDP, we must do more to enable the government to generate additional revenue.

“If we expose sectors that have not been paying tax despite making substantial profits, it will be enlightening when we carry out our investigations.

“Some of the findings reveal individuals with enormous incomes who pay very little tax, leaving us to wonder how we sustain this system.”

Olukoyede vowed that the commission would not relent in “tackling tax evaders, especially individuals and corporate entities that have failed to remit their due taxes to the Federal Government.

He assured that EFCC would collaborate with the CITN to identify the offenders.

By: Babajide Okeowo
 

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