December 8, 2022



Reps demand tax particulars of NNPC’s JVs, PSCs from 1990 up to now

An ad-hoc committee of the Home of Representatives, has demanded tax data and related paperwork from the Nigeria Nationwide Petroleum Firm (NNPC) Restricted on its Joint Ventures (JVs), in addition to Manufacturing Sharing Contracts (PSCs).

The Federal Inland Income Service (FIRS), is predicted to supply the requested tax particulars of NNPC Restricted, protecting 1990 up to now.

The Committee, which is investigating the JV companies through the interval, made the demand on Tuesday when the FIRS represented by Ogunyemilusi Gabriel and Bello Rasheed appeared earlier than it.

Nonetheless, the FIRS’ representatives advised the committee that the related tax paperwork earlier requested for had been earlier than the panel”s secretariat, leaving solely these for  2015 to 2021.

Anticipated by the committee from the FIRS had been abstract of petroleum revenue tax; copies of tax returns filed by all JV ventures from 1990 to 2022; abstract of all remittances to federation account of all tax revenues between 1990 to 2022.

Others embrace copies of correspondence between NNPC Restricted and FIRS tax remittances; abstract of all remittances to the federation account for all tax revenues between 1990 to 2022; and licensed true copies of assorted tax income accounts maintained or supervised by FIRS on behalf of the federation.

Chairman of the committee, Abubakar Fulata, demanded that the data be made accessible by Friday September 30, 2022.

In the meantime, majority of the oil corporations invited by the Committee failed to show up for the investigative listening to, prompting the committee to direct that Chief Executives of the businesses seem in individual or face sanctions.

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