The Federal Government has filed “tax evasion” suit against Well Property Development Company Limited.
The FG sued the business on six charges in the Abuja Federal High Court, with the Federal Inland Revenue Service, FIRS, representing it.
The plaintiff in the dispute is the Federal Republic of Nigeria, while the defendants are Wells Property Development Company Limited and nine individuals.
Among other things, the corporation was accused of many offences, such as fraudulent disclosure of earnings while carrying out taxable services.
The complaint is dated June 21, 2024 and bears the filing number FHC/ABJ/CR/293/2024.
The FIRS accused the corporation of failing to file right and full income tax returns in the necessary form and manner for the purpose of paying appropriate FIRS-administered tax, which is criminal under Section 55 of the Companies Income Tax Act, as amended.
Count two claimed that the firm allegedly provided FIRS with misleading information about the company’s income, which is penalised under Section 25 of the Value Added Tax Act of 1993, as amended.
Other counts included fraudulent declarations of tax returns for the years 2019 to 2022, as well as failing to deduct and remit all appropriate taxes, all of which are criminal under Section 40 of the FIRS Establishment Act 2007.
No date has been fixed for the hearing of the matter.
