Tax - University Of Ilorin In Fresh Wahala
The University of Ilorin seems to be in a fresh trouble as an Ilorin High Court has ordered the University to settle a whooping tax liability of N970m to the Kwara State Internal Revenue Service (KWIIRS).
The presiding Judge in the person of Hon. Justice Bayo Yusuf, gave this ruling on Friday 13 May 2016 at the Kwara State High Court.
According to him, the application for stay of execution by the Applicant (University of Ilorin) on the judgment earlier given in favor of Claimant (KWIRS) is not valid and is now subsequently dismissed by the Court.
At his ruling, Hon Justice Yusuf ordered that University of Ilorin being the Judgment debtor, pay N100m on or before 31 May 2016 and N50m monthly until the N970m is liquidated accordingly. To add salt to the brewing pepper he added that interest accrued on the liabilities should be paid as well.
Sounding overjoyed with judgment the Executive Chairman of KWIRS, Dr. Muritala Awodun, in a statement described the Judgment as a major victory for the Kwara State Internal Revenue Service and the beginning of recovery of all outstanding liabilities owed the Kwara State Government.
He also stated that the Service, through the Legal and Enforcement department, and in collaboration with the Judiciary and Law Enforcement Agencies, will ensure that all revenues due to the state is recovered and paid into government coffers.
He advised corporate bodies and individuals with outstanding liabilities to comply immediately to save them from embarrassment. It will be recalled that the Kwara State Government recently reformed the state system and tasked the new agency, KWIRS, with a monthly target of N5b.