WATCH THE VIDEO HERE The Cross River Internal Revenue Service (IRS) has issued a final demand to the University of Calabar (UNICAL) over an alleged N3.7 billion tax default spanning from 2018 to 2022. The IRS has warned that legal action will be taken if the university fails to clear the debt within 14 days. Director of Compliance, Mr Ayi Okon, disclosed this information on Monday during the pasting of non-compliance stickers at key locations on the university premises in Calabar. Okon, who led the enforcement team, explained that a back-duty audit uncovered the unpaid taxes. According to a report by the News Agency of Nigeria (NAN), Okon stated, “The Cross River Internal Revenue Service (IRS) has threatened legal action against the University of Calabar (UniCal) if it continues to default in remittance of taxes to the state.” The IRS initially communicated the N3.7 billion tax default to UniCal through an assessment notice, requesting a response within a stipulated period. However, the university allegedly failed to respond, prompting the IRS to escalate the matter by issuing a demand notice in April 2024. When no response was received, a final demand notice followed in May 2024. Despite multiple reconciliation meetings, where the university made commitments to resolve the issue, UniCal has yet to meet its obligations. The IRS has now resorted to pasting non-compliance stickers on the institution’s premises as a final warning before initiating legal action. The University of Calabar has not yet provided an official statement regarding the alleged tax default. The institution has 14 days to clear the debt or face legal consequences as per the IRS’s final demand.
Cross River IRS Threatens Legal Action Against UNICAL Over N3.7 Billion Tax Default
