The Lagos State Internal Revenue Service (LIRS) has shut 34 firms for failing to remit Personal Income Taxes of their employees.

The LIRS Director of Legal Services, SEYI ALADE, during a tax law enforcement exercise, said the tax liabilities amounted to about 356.12 million naira. 

He lamented that the actions of these companies have caused the government loss of revenue.

According to ALADE, the LIRS previously stepped down on enforcement to promote voluntary compliance, however, certain companies, restaurants, hotels, and event centres chose tax evasion. 

He emphasised that the primary goal is to secure compliance with the remittance of Consumption and Personal Income taxes, enabling the government to carry out projects intended for the people’s well-being.

ALADE warned that failing to file tax returns or evading tax are considered criminal offences that may result in financial penalties and, in some cases, custodial sentences upon conviction.