Tuesday, 20 June 2017

Akwa Ibom to sue Total over alleged N25bn tax liability

Akwa Ibom State is moving to sue Total E&P Nigera Limited over alleged N25bn tax liability, PUNCH reports.

The state’s Internal Revenue Service (IRS) has taken a firm decision to embark on a series of legal actions against Total E&P until the calculated tax liabilities are fully settled.

A revenue consultant to the state government Eyo Bassey has said that it is giving the energy giant 7 days to settle the liabilities.

Bassey said:
We have given them from now a 7-day ultimatum to settle the liabilities or face the dire consequences of its increasing defaults of the state revenue laws.
TEPNG have turned many well-intended efforts at settlement of the liability by the state government down, and this has offered the state no alternative option but to take a stringent step toward prosecuting the oil giant for its serial tax default to the state government.

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