The Tax Appeal Tribunal sitting in Abuja, on Wednesday fixed April 22, for adoption of terms of settlement in a suit of alleged double taxation filed by “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS).
Also joined in the suit are the Independent National Electoral Commission (INEC) and the Nigeria Police as co-respondents.
The company said it was dissatisfied with the FIRS assessment of it’s Tax Liability.
At the resumed sitting, the appellant’s counsel, Chike Adaka informed the tribunal that parties have began settlement process and hope to file report of settlement before the next adjourned date.
Nnamdi Nwoyewu, counsel to the second respondent, INEC affirmed with the position of Adaka.
The tribunal, presided over by Mrs Alice Iriogbe, said that the counsel should ensure that they conclude and formalize the settlement process before it is filed.
She therefore adjourned the case until April 22, for adoption of terms of settlement.
News Agency of Nigeria (NAN) reports that the company instituted the suit against the tespondents by alleging that it was dissatisfied with an intent letter by the FIRS imposing a tax liability of N14. 662 million on it without due consideration of all the material and available facts.
The company further stated that the N7. 9 million captured as part of the tax liability has already been deducted at source by the FIRS and the police from the contract sum of the appellant.
The company argued that it would amount to double taxation if FIRS expected the appellant to pay same again.
It therefore sought the order of the tribunal to declare as null and void, the intent letter by FIRS dated April 7, 2014 .
The company also sought an order of the tribunal directing INEC and the Police to show evidence of remittances to FIRS of the sums deducted from the payments made by the appellant in respect of contract executed.
The appellant also asked the tribunal to direct that ,credit should be given to the appellant in respect of the tax deductions made on payments due to it from the INEC and the Police totaling N7. 9 million.T
The company further sought an order directing FIRS to issue it a tax clearance certificate which was withheld for the 2006 to 2011 year of assessment. (NAN)