Economy

THE Kaduna State Internal Revenue Service (KADIRS), has sealed the Kaduna Electricity Distribution Company (KAEDCO) over a N600 million tax liability.Speaking to newsmen after the exercise in the early hours of Friday, the Executive Chairman of KADIRS, Mr Jerry Adams, said the operation was an execution of a Court order to restrain KAEDCO over the liability due to the state.Adams explained that the N600 million tax liability was from 2015 to 2022, where they did all the reconciliations with KAEDCO the firm agreeing to pay a substantial amount of the liability.The executive chairman, however, lamented, “Till this moment, since last year that the liability was established, KAEDCO has not met  what it committed to do.“We are backed by the law to seal and take over their premises in order to ensure compliance, and that is what we executed this morning, “he said.

Adams called on other businesses, individuals, corporate organisations and the public to always ensure voluntary comply in tax payments.(NAN)

2nd August, 2024.

C.E.

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