By Ahmed Suleiman
The Kwara State Internal Revenue Service (KWIRS) has explained why the Skye Bank branches in Ilorin were reopened.
The branches of the bank at the Post Office and Challenge areas of the state capital were sealed on January 24, 2018 over non payment of withholding tax on bank interest for the years 2013 and 2014 respectively.
The agency had said the bank failed to remit statutory taxes, including taxes on bank interest for two years in the sum of Thirty Million, Sixty Eight Thousand, Four Hundred and Seventy One Naira (N30,068,471.22).
However speaking on the latest development during a chat with Pilot Business, the Public Relations Officer, KWIRS, Mrs. Abibat Ayelabegan explained that Skye Bank has paid 50 per cent of the tax, adding that the financial institution was reopened same day it was sealed.
Ayelabegan further explained that the bank and the agency has reached an agreement on the repayment of the remaining 50 per cent amounting to N30million.
“They (Skye Bank) paid 50 per cent of the withholding tax and we reached an agreement on the re-payment plan on the other 50 per cent that is left.
“We are very considerate because we try to do what we do within the confines of the law but with human feeling. If the agreement is not fulfilled that means we have to seal the bank again,” she added.
The PRO however decline comment on the timeline for the payment of the remaining 50 per cent by the financial institution.
