General News
GEECAT Solutions LTD, an IT company, has dragged Zenith Bank and four associated companies – Quantum Zenith Asset Management Ltd, Quantum Zenith Trustees and Investments Ltd, Quantum Facilities Management Ltd, Quantum Zenith Capital and Investment Ltd to court over value added tax, VAT, payments.
Geecat has also joined the Federal Inland Revenue Services, FIRS, as the seocnd defendant in the case.
According to court documents, Geecat Solutions Ltd. took the bank and its subsidiaries to to the Federal High Court, Ikoyi, Lagos, for allegedly using its VAT in the accounting and returns they made to Federal Inland Revenue Services.
This resulted in Geecat being billed millions of Naira as tax while the Zenith group amassed millions of tax as profits. This is a classic case of transferring their tax liabilities to Geecat Solutions LTD.
The five suits were filed on on February 15, by Goddy Uwazurike of Uwazurike and Associates, lawyer to Geecat, after efforts to resolve the issues failed.
Realnews gathered that the originating processes of the suit have been served to the two defendants (Zenith and FIRS) and the claim is for N200 million against each of the defendants.
The defendants are yet to file their defences in court.
No date has been fixed for hearing the case in court.
– March. 12, 2022 @ 11:32GMT |
A.I
Tags: FIRS Geecat Solutions Quantum Facilities Management Ltd Quantum Zenith Asset Management Ltd Quantum Zenith Capital and Investment Ltd Quantum Zenith Trustees and Investments Ltd Zenith Bank
