The Nation
Tax evasion: FIRS drags Property Development Company Ltd to court
The Federal Government has charged Well Property Development Company Limited with six counts of tax evasion in an effort to improve tax compliance.
On behalf of the government, the Federal Inland Revenue Service filed the lawsuit, charging the business with understating tax filings, making a false claim about its income, and neglecting to withhold and pay taxes.
This is according to a document exclusively obtained by our correspondent on Sunday.
In the suit, the Federal Republic of Nigeria is listed as complainant, while Wells Property Development Company Limited is joined with nine individuals as defendants.
Among other things, the company was accused of various offences including understating tax returns, and false declaration of earnings, while carrying our taxable services.
The suit is marked FHC/ABJ/CR/293/2024 and dated June 21, 2024.
Details later…
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