FIRS Shuts Down Imo State Transport Company (ITC)... Find Out Why

 

The Imo Transport Company Limited (ITC) in Owerri, was on Tuesday, February 28, shut down by the  Federal Inland Revenue Service (FIRS), over a N42 million tax debt incurred between 2008 and 2016.

 

According to Premium Times, the sealing of the company was done by an FIRS enforcement team, led by Ruth Mandeun. 

 

It was gathered that the team leader told the ITC that the FIRS had come to execute a warrant of distraint served on the company following futile attempts to make it fulfill its tax obligation to the federal government.

 

Although, the management of the transport company showed resistance, but later cooperated when it realised the government revenue-collecting agency had complied with due processes in carrying out the exercise.