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Tax Evasion: NNPC partners fleece Nigeria of N1b – Fowler

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Chairman of FIRS has stated that Nigeria companies involved in crude oil swap deal with NNPC, and PPMC are guilty of tax evasion, costing Nigeria N1b.

The chairman of Federal Inland Revenue Service (FIRS), Babatunde Fowler [above] has stated that Nigeria companies involved in crude oil swap deal with  Nigerian National Petroleum Commission (NNPC), Pipeline Products Marketing Company (PPMC), guilty of tax evasion, costing Nigeria N1 billion.

Fowler said this, Tuesday evening, at the public hearing of the House of Representatives ad hoc committee investigating oil swap deal involving NNPC, PPMC, and some partners in from the private sector.

Companies owing taxes and amount they owe as presented by Mr Fowler are as follows: Taleveras owes N1.1 Billion and has only paid N290 million; Lieto Nigeria limited owes N518 million and has only paid N262 million; Ontario owes N524 million and has N513 million.

Duke Oil which is a not registered company in Nigeria but a subsidiary of the NNPC, between August 2013 and 2014 has only paid N26.5 million adding that Transfigura since its operation in the country has not filed any tax returns, Fowler added.

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