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    HomeNewsTax evasion by IOCs: Reps Committee Summons, Nami FIRS chair 

    Tax evasion by IOCs: Reps Committee Summons, Nami FIRS chair
     

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     The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigerian National Petroleum Corporation (NNPC) Ltd has summoned the Chairman of Federal Inland Revenue Service (FIRS).

     The Chairman of the service, Mr Muhammad Nami, was summoned over alleged tax evasion by oil companies.

    Rep. Abubakar Fulata made this known on Wednesday during the committee’s hearing in Abuja, said the non-remittance of appropriate taxes by the oil companies in Nigeria had serious adverse effects on the

     The committee also expressed worry over the inability of FIRS to have access to the Stock Certificate of Crude Oil.

    The representatives of FIRS, a Director and Special Assistant were not permitted by members of the committee to make presentation as they insisted that only the chairman is expected to speak on behalf of FIRS.

    The FIRS representatives had earlier told the committee that the service does not have access to the Stock Certificate of crude oil being lifted.

    The representatives said they only relied on the invoice produced and presented to it by the oil companies.

     The committee said it would be ridiculous for FIRS to rely on invoices produced by the oil companies instead of the Stock Certificate which gives clearer pictures of the oil being lifted.

     The committee alleged that oil companies were not paying the required taxes while many of them collected huge amount of money from the federation account in the name of joint venture with NNPC.

    The committee said that NNPC continued to pay money running into billions of dollars to oil companies in the name of joint venture despite presidential directive halting it since 2018.

    The representatives of Chevron Nigeria Ltd who appeared before the committee were also sent back.

    The committee however insisted that the Chairman of the company must appear to answer questions regarding their activities in the country.

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