Audit observed that:
i. Value Added Tax (VAT) of 39,776,437.54 (Thirty-nine million seven hundred and seventy-six thousand four hundred and thirty-seven naira fifty-four kobo) from payment for services were deducted.
ii. With-holding Tax (WHT) of 237,634,678.75 (Two-hundred and thirty seven million six hundred and thirty four thousand six hundred and seventy eight naira seventy five kobo) from payment for services were deducted, and
iii. There was no evidence to show that the sum of 277,411,116.29 (Two hundred and seventy seven million, four hundred and eleven thousand, one hundred and sixteen naira, twenty nine kobo) (=39,776,437.54 + 237,634,678.75) being VAT and WHT deducted were remitted to the relevant tax authorities as required by extant regulations.
The Clerk to the National Assembly is requested to:
i. Furnish reasons why VAT and WHT deducted from payment for services were not remitted to relevant tax authorities.
ii. Remit the sum of 277,411,116.29 (Two hundred and seventy seven million, four hundred and eleven thousand, one hundred and sixteen naira, twenty nine kobo) to relevant tax authorities.
iii. Forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
iv. Otherwise, apply sanctions relating to failure to promptly remit tax specified in paragraph 234(ii) of the Financial Regulations.
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