The Nigerian government has sued a Chinese firm, SSL Industry Company Limited and three others for alleged N1,217,789,058 tax fraud.
Others joined in the suit are the firm’s managing director, Liu Qiang; a director, Shi Shual and a Nigerian accountant, Babatunde Ayeni.
The suit was filed by the Economic and Financial Crimes Commission (EFCC) before Justice Inyang Ekwo of the Federal High Court in Abuja.
EFCC in the suit accused the defendants of evading the payment of the Value Added Tax (VAT) estimated at N1,217,789,058 by falsifying audited account statements/income tax returns.
The four counts filed against the defendants read: “That you SSL Industry Company Limited, Liu Qiang (being the Managing Director of SSL Industry Company Limited), and Shi Shuai (being the director of SSL Industry Company Limited) between 2019 to 2021, in Abuja, being obliged by Section 16(1)(a) of the Value Added Tax Act, failed to deduct and pay to the Federal Inland Revenue Service within 30 days from the date the Vave Added Tax became due for the deduction, and thereby committed an offence contrary to Section 40 of the Federal Inland Revenue Service Act, 2007 and punishable under section 40 of the same Act.
“That you SSL Industry Company Limited (being in the business of the sale of aluminum coil), liu Qiang (being the Managing Director of SSL Industry Company Limited), and Shi Shual (being the director of SSL Industry) between 2019 to 2021, in Abuja, evaded the payment of the Value Added Tax in the sum of NI,217,789, 058 to the Federal Inland Revenue Service, and thereby committed an offence contrary to section 26 of the Value Added Tax Act, 2004 and punishable under Section 26 of the same Act.
“That you SSL Industry Company Limited, Liu Qiang (being the Managing Director of SSL Industry Company Limited), Shi Shuai (being the director of SSL Industry Company Limited) and Babatunde Ayeni (trading under the name and style of Babatunde Ayeni & Co) sometime in 2021, in Abuja, made, signed and delivered to the Federal Inland Revenue Service an audited financial statement, which is false as to the object of the company and the turnover and thereby committed an offence contrary to section 42(1) of the Federal Inland Revenue Service Act, 2007 and punishable under section 42 (3) of the same Act.
“That you Babatunde Ayeni (trading under the name and style of Babatunde Ayeni & Co), sometime in 2021, in Abuja, aided SSL Industry Company Limited to make or deliver a false audited financial statement/income tax returns under the Companies Income Tax Act and thereby committed an offence contrary to section 94 (1}(b) of the Companies Income Tax Act, 2007 and punishable under section 94 of the same Act.”