Lagos State Revenue Service to Recover Unpaid Taxes Using NTAA Powers
The Lagos State Internal Revenue Service (LIRS) has announced its intention to utilize the Nigeria Tax Administration Act (NTAA) to recover unpaid taxes from third parties. This action is aimed at enforcing tax compliance and retrieving outstanding tax liabilities from defaulting taxpayers.
The NTAA grants LIRS statutory powers to recover taxes from third parties who have not settled their tax obligations. The agency will issue substitution notices to these defaulting taxpayers, requiring them to pay specific amounts to settle their tax liabilities.
Failure to comply may result in legal action. This move comes amidst the implementation of new tax laws by the federal government in January.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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