Osun Seals Oduduwa University Over Unpaid Tax

Osun Seals Oduduwa University Over Non-Payment of Tax:

The Osun Internal Revenue Service on Monday sealed off Oduduwa University, Ipetumodu,  over non-remittance of N173 million income tax.

Mr Femi Balogun, Senior Special Assistant to the Governor on  Revenue,  who led the  team to the university  said  this in a statement in Osogbo.

Oduduwa University, Ipetumodu,  is a private tertiary institution  located in Ife North area of the state.

Balogun said: “ The tax liabilities covered back duty liability from 2006-2011 and the enforcement is the last stage of any tax process which is in line with Section 104 sub section (1) and (2) of personnel income tax act as amended.

‘’Tax payment is a law and a civic responsibility of all sundries; it is through this effort that government provides massive infrastructural development, security and other amenities.

‘’The Revenue Department will stop at nothing to ensure that every individual performs his civic obligations.’’

He advised the university to “ do  the needful by paying up its tax liability to avoid further action of prosecution in a court of law.’’

“ We have commenced the general enforcement on all corporate tax defaulters and within the next few days, the enforcement team will visit all tax defaulters.

‘’We have on  our radar  corporate institutions like banks  owing back duty of withholding tax on bank interest and some other companies that are recalcitrant in fulfilling tax obligations.

‘’It is important to urge all tax payers and companies with outstanding tax liabilities to resolve their tax issues to avoid embarrassment,’’ Balogun said.  (NAN)