#BBB NEWS| Tax Evasion: FIRS To Go After 325,000 Companies, Persons

The Federal Inland Revenue Service would soon go after multinational companies, corporate organisations and individuals who are evading payment of taxes in the country. (pictured above) Executive Chairman, FIRS, Dr. Babatunde Fowler

The move, according to SUNDAY PUNCH’s investigations, is part of a renewed effort by the agency to boost tax revenue to fund the programmes of the Federal Government.

Statistics obtained from the service revealed that out of the 450,000 companies in Nigeria, only 125,000, representing 27.7 per cent, pay any form of taxes.

Going by this figure, it implies that about 325,000 companies are evading tax, thus denying the government huge revenue annually.

In the 2015 fiscal year, the FIRS was given a revenue generation target of N4.5tn by the Federal Government and it has so far generated N2.667tn.

#BBB NEWS| Lauryn Hill Cancels London Performance Due To Legal Strain [PHOTO]

Even though Lauryn Hill’s widely publicized tax evasion case landed her a three-month prison sentence, her reintroduction to the music scene through tours and concert appearances gave us back all we missed from her.

But it seems as though her legal complications might be back to haunt her, as she was forced to cancel a London show at the O2 Shepherd’s Bush Empire due to her “past legal situation.”

The rapper-songwriter took to Facebook with an unfortunate message for fans where she explains that she won’t move forward with the show: