Union Bank react to branch closure over alleged tax default

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OrijoReporter.com, Union Bank tax default

Union Bank Limited has reacted to the closure of its Lokoja branch in Kogi by the State Internal Revenue Service (KIRS).

KIRS shutdown the branch over alleged default in corporate tax payment.

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Reacting to the tax body’s sanction, the bank in a statement its released pleaded its case.

It read in part: “As an institution with a proven track record of responsible corporate citizenship, it takes civic obligations seriously. For the benefit of our customers, the press, and members of the general public, we wish to state the following, with regard to the above-mentioned incident.

“Occasionally, as in this case, we may disagree with state entities over the objectivity of tax assessments carried out relating to our business. These are typically resolved through rigorous professional reviews and audits, and sometimes through legal channels.

“We are therefore disappointed that in this instance, the Kogi State Internal Revenue Service  has chosen to escalate the issue rather than work through a professional review process to seek a prudent resolution.

“We are directing our response through the appropriate channels as our objective is to ensure fair and proper assessment, and subsequently, prompt resolution of the situation to reduce the inconvenience to our customers.”

 

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