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Lagos Govt To Shut Down ‘Owing’ Companies

Ambode Appoints New Head Of Service
File Photo Lagos Governor, Ambode

After several warnings issued to companies whose books are not up to date, the Lagos State Govt is set to shut down corporate organisations who have defaulted in tax payment.

The move, it was learnt, is aimed at boosting the infrastructural drive of the Ambode-led administration.

Commissioner for Finance, Mr. Akinyemi Ashade, disclosed this on Sunday, in a press statement.

Mr Ashade thereafter warned that any company found to have evaded tax would not be spared.

“All law abiding corporate organisations are advised to adhere to this directive as the state govt has given enough grace period for them to remit their taxes.

“The govt will on Monday, November 20, commence the process of shutting down the headquarters of corporate organisations, including banks who have failed to remit statutory taxes to govt coffers.

“It is in the interest of companies who are yet to remit their taxes to do so on or before Monday,” he said.

Prompt payment of tax, according to Ashiru, will enable the govt provide the necessary infrastructure and improve the standard of living of the people.

The Finance boss added that the state would be encouraged to do more if its residents cooperated regarding the prompt payment.

“Prompt payment of tax will enable the govt provide the necessary infrastructure and improve the standard of living of the people, but when people pay their taxes promptly, govt is encouraged to do more.

“The administration of Governor Akinwunmi Ambode has shown in the last two and half years that taxes paid are judiciously spent on projects that have impacted positively on the lives of Lagos citizens,” he explained.

It would be recalled that the state govt had last week directed all its revenue agencies to ensure prompt payment of taxes including land use charges, thereby commence enforcement of payment by all tax defaulters with immediate effect.

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