FIRS Seals Ibadan Firm over Tax Debt Default

In continuation of its enforcement initiative, the Federal Inland Revenue Service, FIRS, on Wednesday, 12 February, 2025, sealed the premises of company Renyiwood International Ltd in default of payment of N9,423,201.08 (Nine Million, Four Hundred and Twenty-Three Thousand, Two Hundred and One Naira, Eight Kobo Only) judgment sum as ordered by the Tax Appeal Tribunal upon registering same as the judgment of the Federal High Court.

The FIRS Enforcement Team sealed Renyiwood International Ltd located in Ibadan over an aggregate tax debt of N9.4M (Nine Million, Four Hundred Thousand Naira)

Upon application by the FIRS, the Federal High Court, Ibadan issued a Writ of attachment and sale of goods against the judgment debtor (Renyiwood International Ltd) in default of payment of judgment order.

It will be recalled that the FIRS had dragged the defaulting company to the Tax Appeal Tribunal for failure to remit Tax payment for its Company Income Tax and Education Development Tax for the 2017-2020 years of assessment, and the decision was granted in favour of the FIRS.

The Court Sheriffs, the FIRS Legal Unit Ibadan, in collaboration with DMO (Ibadan) and the Enforcement team successfully carried out the judgment enforcement exercise.

The taxpayers are enjoined to pay attention to their tax obligations both for FIRS and State taxes to avoid this form of unpleasant experience.