Tribunal grants tax reduction to Unity Bank, Leadway Pensure, BoI
December 20
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The tribunal in a statement, said it ordered a reduction to N27.45 million from N431.92 million, being tax assessment imposed on Unity Bank by Kano state internal revenue service.
The Bank of Industry (BoI) also got a reduction to N15 million from N178.25 million being tax assessment imposed by the Kaduna state internal revenue service.
Another taxpayer, Leadway Pensure Limited also efficaciously challenged their tax assessment, in the sum of N462.46 million which was reduced to N5.5 million by the tribunal.
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The tribunal said no matter has remained on the cause list for more than one year, with matters being speedily conducted and brought to conclusion, most times within six months of filing.
Nigeria: Unity Bank, BoI, Others Challenge Taxes Imposed By Tribunal allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
By Oluchi Chibuzor
Some tax payers within the North-west Zone, comprising the states of Kaduna, Kebbi, Kano, Katsina, Jigawa, Sokoto and Kano have availed themselves of the service of the Tax Appeal Tribunal (TAT) North-west Zone, sitting in Kaduna to successfully challenge arbitrary tax assessments imposed on them by the various revenue services and boards within the zone.
Organisations which have recently taken their cases to the tribunal included Unity Bank, Silver Plastics, Leadway Pensure Limited, Bank of Industry, Access Bank and Kano State University of Science and Technology, Wudil.
Ibrahim Boyi of Ibrahim Boyi and Company, a law firm resident in Kano, on November 11, 2020, filed before the tribunal, an appeal challenging an assessment of the sum of N118,865,475.42 imposed on Silver Plastics by the Kano State Internal Revenue Service.