The Edo State Internal Revenue Service (EIRS) has sealed Market Square, also known as Sunday Foods, located in Benin City due to an outstanding tax liability exceeding N27 million.
According to a statement by Courage Eboigbe, Head of Corporate Communications at EIRS, the closure follows a thorough audit covering the years 2018 to 2023 which revealed unpaid Pay-As-You-Earn (PAYE) and Withholding Taxes.
The tax assessment was duly communicated to Market Square, and with no objections raised within the stipulated time frame, the liability became final and enforceable.
Despite numerous reminders, the company failed to settle its debts, forcing EIRS to obtain a court order to enforce closure.
The statement emphasized that EIRS is ready to lift the seal upon confirmation of full payment of the outstanding tax amounting to N27,005,117.97.
Courage Eboigbe reiterated that payment of taxes is a civic responsibility essential for the government’s ability to provide infrastructure and public services.
He stressed that timely tax compliance fosters a company’s reputation and smooth business operations.
EIRS further expressed appreciation for organizations that adhere to tax regulations and urged defaulters to settle their obligations to avoid enforcement measures.