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Home ยป Tribunal orders AEDC to pay N5.3bn tax liability
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Tribunal orders AEDC to pay N5.3bn tax liability

OsunDailyBy OsunDailyDecember 14, 2023No Comments2 Mins Read
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Tribunal orders AEDC to pay N5.3bn tax liability
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The Tax Appeal Tribunal, TAT, sitting in Abuja, on Thursday, ordered the Abuja Electricity Distribution Company, AEDC, to pay the cumulative sum of N5.3 billion as value-added tax, VAT, and withholding tax liability for the period between 2013 and 2017.

The five tax appeal commissioners, chaired by Hon. Alice Iriogbe, held in a judgement that the assessment of the VAT made by the Federal Inland Revenue Service, FIRS, on the company was valid and under the Value Added Tax Act.

The News Agency of Nigeria, NAN, reports that the appellant, AEDC, had, in the appeal marked TAT/ABJ/330/2024, sued the FIRS as the sole respondent.

FIRS, in conjunction with the Economic and Financial Crimes Commission, EFCC, had, in 2018, conducted a tax investigation on the appellant for the 2013โ€“2017 years of assessment.

At the end of the investigation, a tax liability of N20, 163,668,697 (twenty billion, one hundred and sixty-three million, six hundred and sixty-eight thousand, and six hundred and ninety-seven naira only) was established against the company.

Delivering the judgement, the five-member panel held that AEDC was bound by the action of its agents, the Ascension Consulting Services Consortium (comprising of Ascension Consulting Services, TBS Professional Services, and The Eminent Konsult), appointed to act on its behalf for the reconciliation of VAT in respect of the tax investigation and reconciliation exercise.

โ€œThis honourable tribunal, therefore, compels the appellant to pay N4,534,358,874.00 (four billion, five hundred and thirty-four million, three hundred and fifty-eight thousand, eight hundred and seventy-four naira) only as VAT liability for 2013โ€“2017 as contained in the Notice of Refusal to Amend (NORA) to the respondent (FIRS) forthwith.

โ€œThis honourable tribunal compels the appellant to pay the sum of N780,307,078.00 (seven hundred and eighty million, three hundred and seventy-eight naira) only as withholding tax (WHT) liability for 2013 and 2016 as established by its consultant KPMG,โ€ it ordered.

The tribunal also compelled AEDC to pay the sum of N100,000 in pending cost awarded in favour of the FIRS in the course of the proceeding.

According to the tribunal, the appellant is also liable for interest on the judgement sum at the prevailing CBN rediscount rate from the date of judgement until the judgement debt is liquidated.

โ€œThis is the judgement of this honourable tribunal,โ€ it declared.

NAN reports that other members of the tribunal include Hon Ishola Akintoye, Hon Ajayi Julius-Bamidele, Hon Nasir Kuliya and Hon Almustapha Aliyu.


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AEDC liability N5.3bn Orders Pay Tax Tribunal
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