The court granted the sale order following prayers by the Federal Inland Revenue Service, FIRS to allow it sell the landed property of the two firms to defray the tax liabilities which amounted to N18. 8 million against Zaibadari and N17.1 million against Tradecraft.FIRS approached the court for an order to sell the property after the two firms failed to honour a series of demand notices issued to pay their outstanding tax liabilities.
FIRS relied on Section 33 of the Federal Inland Revenue Service, Establishment Act, 2007 and served Warrants of Distraint on the Respondents giving them 14 days to pay the tax due or risk the sale of their property to settle the tax debt. Ugwunebo, in an affidavit, told the court that Zaibadari’s assessment was based on 20 per cent of N62,675, 200 million which was the “deemed profit of the respondent landed property located at Plot 551 Wuye B03, FCT Abuja, valued at N313, 3376,000 million.”
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