In 2 recent judgments delivered by the Tax Appeal Tribunal (the “Tribunal”) sitting in Lagos, the Tribunal considered the status of assessments raised by the FIRS which had become final and conclusive following failure of the separate taxpayers to object within the 30 day timeline stipulated by law.
A company continues to exist until it is wound up. Dormant and other inactive companies should ensure continued compliance with relevant tax obligations, and that there is a system for responding to correspondence from the tax authorities.
Please see our Tax Alert below: