KADIRS GETS ORDER TO SEAL UNION BANK PREMISES

KADIRS GETS ORDER TO SEAL UNION BANK PREMISES

KADI RS on friday obtained awarrant to seal the premises of Union Bank Plc in Kaduna over non remittance of N 19.3 million.

The money is outstanding Pay As You Earn (PAYE) tax liabilities for the year 2014.

The revenue service had on Febraury 8 dragged the bank before Justice Gideon Kurada of a Kaduna High Court for non remittance of tax liabilities to the tune of N 19.3 million. Counsel to the Service, Mr Francis Kozah told the court that the Service conducted PAYE tax audit on the bank for 2014 and sought the order based on Sections 104(3) and (4) of the Personal Income Tax Act , 2011 as amended and Section 37(3) and (4) of the Kaduna State tax Codification and Consolidation Law, 2016. In his ruling Justice Kurada said that there was merit in the application and it was granted.


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Relevant Information
Tax Rate
  • 7% First N 300,000
  • 11% Next N 300,000
  • 15% Next N 500,000
  • 21% Next N 500,000
  • 21% Next N 1,600,000
  • 24% Above N 3,200,000
Tax Payment Mode
  • Option 1 InterSwitch PayDirect
  • Option 2 Quick Teller

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