Non-Deduction And Non-Remittance Of Vat And Stamp Duty

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

MDA

Federal College Of Agriculture, Akure

Project Location/State

N/A State

Award Year

2018

Contract Sum

₦₦0.00

Amount Paid

₦₦0.00

Unaccounted

₦₦6,410,293.69

Context/Observation

Audit observed that the College failed to deduct and remit Stamp Duty of N5,574,176.88 and Value Added Tax of N836,116.81 from contracts awarded, some of which were for the supply of crop processing plant, tree planting and purchase of a Hyundai Santa-Fe Grand Luxury Jeep.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Provost is required to recover the sum of N6,410,293.69 from the contractors and pay to the tax authorities. Otherwise, sanctions in line with FR 234 (iii) should apply

Executive Action

N/A

Progress Report

N/A

Data Source

2018 Audit Report

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  • Submitted Petition History
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