Business News of Saturday, 20 September 2025
Source: www.dailypost.ng
Edo State Internal Revenue Service, EIRS, has sealed the premises of Market Square (Sunday Foods) in Benin City over alleged tax default amounting to more than N27 million.
In a statement issued yesterday, the Head of Corporate Communications at EIRS, Courage Eboigbe, said the enforcement action followed the company’s failure to settle outstanding liabilities uncovered during an audit covering a five-year period.
According to the statement, the audit, which spanned 2018 to 2023, revealed unpaid obligations on Pay-As-You-Earn, PAYE, and Withholding Tax. The agency noted that the assessment was duly communicated to Market Square, and having raised no objection within the stipulated time, the tax liability became final and enforceable.
Eboigbe explained that despite repeated reminders, the company failed to clear its debt, compelling the revenue authority to approach the court for an order to seal its premises.
“The Edo State Internal Revenue Service on Friday, September 19, 2025, sealed the premises of Market Square (Sunday Foods) for non-payment of taxes amounting to N27,005,117.97. The EIRS is prepared to unseal the premises immediately upon confirmation of full payment,” the statement read.
Reiterating that tax payment is a fundamental civic duty for businesses and individuals operating in the state, Eboigbe said tax revenue is vital for providing infrastructure and essential services.
He added that voluntary compliance not only supports government projects but also enhances a company’s reputation and smooth business operations.
The agency, he noted, appreciates organisations that regularly meet their tax obligations and urged defaulters to do the same to avoid enforcement actions.