The Lagos State Board of Internal Revenue (LBIR) conducted an audit on Mega Trust Insurance Brokers Limited (MTIBL) and issued a demand notice for personal income tax, withholding taxes, development levies and business premises levies. LBIR alleged that MTIBL failed to object to the assessment within the 30-day period allowed by the Personal Income Tax Act (PITA), and subsequently issued a letter of intention to obtain a warrant of distrain.
MTIBL argued that the individuals in respect of which the assessment was issued, were not its employees. The Company also argued that it had submitted an objection to a separate office of the LBIR, and that such should be considered to be valid objection.
Please read more in our Tax Alert below:
Download Tribunal rules on PAYE remittance and the service of objection letters