The House of Representatives Ad-hoc Committee on Communication Equipment and Service Companies/Vendors in Nigeria will kickstart an investigation into the allegedly unremitted N143 billion unpaid taxes today.
The chairman of the committee, Hon. Ahmad Abu, stated that the Committee failed to meet twice due to high-wire intrigues.
Speaking with the Daily Post, he said Thursday’s hearing will allow the committee submit reports to the House when it reconvenes.
The lawmaker disclosed that the committee will assess the tax compliance status and remittance of statutory contributions to relevant government agencies by telecommunication service providers.
Abu said: “So far, we have 24 companies (reportedly owing) and we have a total of N143.434 billion,” he said.
“Auditors are still looking at the books of others, including vendors and lottery operators operating under the platform of telecoms.”
He further explained differences between tax evasion and tax avoidance, saying that: “When you say tax evasion, it is criminal in nature while tax avoidance is legal. So, what we are trying to do here is simple; to strengthen our laws.
“If you try to avoid tax, it means there are loopholes in our laws. And what we do is to strengthen these laws and make them better for the benefit of the industry and the benefit of the country.”