The Tax Appeal Tribunal sitting in Abuja, on Tuesday fixed Aug. 16, for Report of Settlement a suit filed by a company, “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS) and one other.
The company dragged the FIRS, before the Tax Appeal Tribunal over alleged double taxation.
Also joined in the suit are the Independent Electoral Commission ( INEC) and the Nigeria Police.
The company, said it was dissatisfied with the FIRS assessments of it’s Tax Liability.
The Chairman of the tribunal, Mrs Alice Iriogbe, fixed the date after the appellant’s counsel, Mr Ifegbunachi Onwo, said parties had started and were currently taking steps to settle out of court.
Iriogbe said: “since parties are disposed to settlement, the matter is adjourned until Aug. 16 for Report of settlement or continuation of hearing”.
Earlier, Onwo sought for an adjournment to enable parties to meet and cement details.
Also, the respondent’s counsel, Mr Adebayo Ogunmola, told the tribunal that there was a partial position as the appellant counsel had called him twice but parties have not been able to meet, he further stated that they were fully disposed to settlement and hoped it would not be a total waste of time.
Also, INEC’s counsel, Mr Nnamdi Onyenwu, submitted that he was ready to incorporate the first respondent counsel’s position and was ready to align with the decision of other parties.
NAN also reports that the company specifically said that it was dissatisfied with an intent letter by the FIRS imposing a tax liability of N14. 662 million on it without due consideration of all the material and available facts.
The company further stated that the N7. 9 million captured as part of the tax liability have already been deducted at source by the FIRS and the police from the contract sum of the appellant.
The company argued that it would amount to double taxation if FIRS expected the appellant to pay same again.
It therefore sought the order of the tribunal to declare as null and void, the intent letter by FIRS dated April 7, 2014 .
The company also sought an order of the tribunal directing INEC and the Police to show evidence of remittances to FIRS of the sums deducted from the payments made by the appellant in respect of contract executed.
The appellant also asked the tribunal to direct that ,credit should be given to the appellant in respect of the tax deductions made on payments due to it from the INEC and the Police totalling N7. 9 million.
The company further sought an order directing FIRS to issue it a tax clearance certificate which was withheld for the 2006 to 2011 year of assessment.