The Board of Internal Revenue in Oyo State have sealed over 50 companies over failure to pay two-three years of outstanding professional and business registration and renewal fees.

The companies affected include conglomerates, banks, telecommunication outfit, hotels, events center and some merchant’s outfits located in Ibadan, the Oyo State Capital.

The week-long exercise commenced with banks located along Dugbe road sealed. In Oke-Ado, ring road and other parts of Ibadan South West local government area a major telecommunication outfit, hotels and events centres, a major beverage producing company and some private companies were sealed.

Chairman, Board of Internal Revenue in the state, Mr Bicci Alli told journalists in Ibadan on Thursday that it is essential for business owners to develop the culture of compliance of paying taxes promptly.

He said the corporate entities affected by the inter-ministerial emergency exercise have been duly informed before the exercise was carried out.

“We have done a lot in writing, sensitising them, talking to them before today.

“However, they failed to do the right thing. We are very serious about compliance. People should be ready to pay. Our people should learn to do the right thing. They should develop the culture. Though we need to generate more revenue, it is not the amount per see but the culture of compliance that we want our people to cultivate,” he said.

Alli stressed that the board followed due process before sealing the companies and that assessment notice was served on the corporate entities to pay.

“Bulk of the liabilities we are recovering now relates to 2016/2017, not even 2018. We have evidence to show that notices were sent to the corporate entities while reminders of seven days to pay followed,” Alli said. (Channels TV)