BUA REACTS TO SAHARA REPORTERS STORY, REVEALS BOGUS TAX CLAIMS BY FIRS AND COMPANY’S IMMEDIATE RESPONSE

The BUA Group has responded to an article published by Sahara Reporters today alleging that FIRS demanded a payment of 198.7Billion Naira being estimated tax for 2022.
According to the statement from the conglomerate, in the exchange of communication between BUA and FIRS, the company had denied the 1Trillion Naira as alleged by the tax body stating categorically that it’s books are available for all to see.
The company also revealed that it had reacted to the FIRS letter quoted in the article since the premise given for the humongous tax of 198.7Billion which was the alleged 1Trillion turnover never existed. Attaching both copies of the FIRS letter dated 19th September and their reply dated 25th September, the company wondered why those who leaked the FIRS letter forgot to leak its reaction if not for mischief.

Clarifying the alleged ultimatum, BUA also stated that it was rather a deadline to respond to inquiry rather than to make payment as alleged in the Sahara Reporters hatchet job article.
Going further BUA stated that as a responsible corporate entity, it is committed to fulfilling its statutory obligations to FIRS and other corporate bodies in Nigeria, and this includes payment of its tax as at when due, but the publication was indeed a gross misrepresentation of what transpired in tye exchanges between the organization and FIRS.

See copies of the correspondence with FIRS below