LIRS denies plan to seize funds from banks over unpaid taxes

LIRS denies plan to seize funds from banks over unpaid taxes

The Executive Chairman of the Lagos State Internal Revenue Service, LIRS, Dr Ayodele Subair, has dismissed claims that the agency intends to directly seize funds from the bank accounts of defaulting organisations through financial institutions or third parties. He clarified that the objective of LIRS is to recover outstanding tax liabilities lawfully in order to enable the government provide essential public services and infrastructure for resid…

LIRS warns against fake transactions to avoid tax

The Lagos State Internal Revenue Service has warned taxpayers against engaging in artificial or fictitious transactions designed to reduce tax liabilities. According to LIRS, such arrangements will be disregarded under the Nigeria Tax Administration Act (NTAA), 2025, and may expose culpable taxpayers to investigation and penalties. This is contained in a public notice dated January … The post LIRS warns against fake transactions to avoid tax app…