In a bid to strengthen tax compliance, the Federal Government has filed a six-count charge against Well Property Development Company Limited for tax evasion.

The Federal Inland Revenue Service filed the suit on behalf of the government, accusing the company of understating tax returns, false declaration of earnings, and failing to deduct and remit taxes.
This is according to a document exclusively obtained by our correspondent on Sunday.
In the suit, the Federal Republic of Nigeria is listed as complainant, while Wells Property Development Company Limited is joined with nine individuals as defendants.

Among other things, the company was accused of various offences including understating tax returns, and false declaration of earnings, while carrying our taxable services.
The suit is marked FHC/ABJ/CR/293/2024 and dated June 21, 2024.

The FIRS accused the firm of failure to file correct and complete income tax returns in the prescribed form and manner for the purpose of paying relevant tax administered by FIRS, an offence punishable under Section 55 of the Companies Income Tax Act as amended.
Count two stated that the firm allegedly furnished FIRS with false information regarding the company’s income which is an offence punishable under Section 25 of the Value Added Tax Act of 1993 as amended.

Other counts bordered on false declaration of tax returns for the years 2019 to 2022 and failure to deduct and remit all relevant taxes, which is an offence punishable under Section 40 of the FIRS Establishment Act 2007.
No date has been fixed for hearing of the matter.