FIRS files charges against firm for tax evasion

In a bid to strengthen tax compliance, the Federal Government has filed a six-count charge against Well Property Development Company Limited for tax evasion.

The Federal Inland Revenue Service filed the suit on behalf of the government, accusing the company of understating tax returns, false declaration of earnings, and failing to deduct and remit taxes.

This is according to a document on Sunday.

In the suit, the Federal Republic of Nigeria is listed as complainant, while Wells Property Development Company Limited is joined with nine individuals as defendants.

Among other things, the company was accused of various offences including understating tax returns, and false declaration of earnings, while carrying our taxable services.

The suit is marked FHC/ABJ/CR/293/2024 and dated June 21, 2024.

Details later…