Non-Deduction of Statutory WithHolding and Value Added Tax

Posted on
by OLUDOLAPO TUBI
  • Project Status: N/A

MDA

Federal University of Agriculture, Abeokuta

Project Location/State

N/A State

Award Year

2018

Contract Sum

₦₦0.00

Amount Paid

₦₦0.00

Unaccounted

₦₦4,382,621.74

Context/Observation

Audit observed that withholding Tax amounting to N705,662.50 and value added tax on contracts amounting to N3,676,959.24, were not deducted from contracts awarded in 2017. Hence, no remittance of same to the relevant tax authorities.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Vice Chancellor is required to remit the sum of N4,382,621.74 to the Federal Inland Revenue Service (FIRS) and the evidence forwarded to the Public Accounts Committee of the National Assembly for verification, failing which sanctions stated 234(ii) & (iii)

Executive Action

N/A

Progress Report

N/A

Data Source

2018 Audit Report of FG

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  • Submitted Petition History
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