Dangote named most tax criticism enterprise organizations by FIRS

…Firm, subsidiaries win large at FIRS, FMDQ awards

It was a season of award on the weekend for the Dangote Group and its subsidiaries following their recognition as finest Nigeria’s finest compliant tax payer enterprise group and FMDQ Gold award winner for being probably the most energetic company group within the international trade market.

Dangote Indusries Restricted (DIL) and Bluestar Delivery, a subsidiary, had been acknowledged as probably the most compliant in tax cost within the nation forward of the MTN Communication whereas the nation’s main cement producer, Dangote Cement Plc at one other event gained three awards on the FMDQ Gold Awards held in Lagos.

Throughout the Particular Day of the Federal Inland Income Service (FIRS) on the simply concluded Lagos Worldwide Commerce Honest, the nation’s tax regulators adjudged Dangote Industries Restricted as probably the most compliant taxpayers in Nigeria.

In one other improvement, Dangote Cement Plc emerged because the Largest Industrial Paper Citation on FMDQ and Single Largest Company Debt Challenge on FMDQ. Dangote Industries Ltd additionally emerged because the “Most energetic company within the international trade market”.

The FMDQ GOLD Awards, (International Competitiveness, Operational Excellence, Liquidity and Range), is a company custom that recognises the resilience and agility of the Nigerian monetary markets’ contributors.

The award acknowledges the dear efforts of those stakeholders, whose participation within the FMDQ markets and throughout the monetary market infrastructure worth chain of FMDQ’s companies – Securities Trade, Central Counterparty and Depository – have positively formed the course of the markets and invariably impacted the event of the Nigerian financial system.

Two corporations from the Dangote secure, Dangote Cement and Blue Star Delivery had been recognised on the weekend by the Federal Inland Income Service (FIRS) as being among the many most compliant taxpayers. As a part of its Particular Day actions on the 2024 Lagos Worldwide Commerce Honest, the FIRS celebrated a number of enterprise organisations for his or her excessive ranges of tax compliance.

Dangote Cement was recognised within the greatest taxpayer class within the a part of the programme tagged “FIRS compliant taxpayers awards and recognition”. A number of audio system on the occasion together with FIRS State Administration Lagos Mainland, Ishola Akingbade, who represented the Chairman of FIRS recommended these corporations for his or her excessive ranges of compliance which makes tax administration straightforward.

Head of Tax Compliance at Dangote Industries Ltd, Dr. Titi Fowokan talking on the journey resulting in the popularity by FIRS  said that “Dangote as a Group has a Tax Coverage that’s based mostly on zero tolerance for tax non-compliance. Nearly as good company residents, we adjust to all related legal guidelines, together with tax legal guidelines. Additionally, complying with the tax cost statutory deadlines ensures that we don’t fall foul of the regulation, which stipulates penalties for non-compliance.”

In keeping with her, Dangote Group achieved compliance by setting up world class processes that align with the necessities of the tax legal guidelines and rules, placing into consideration the necessity to strictly adhere to statutory timeliness and eradicate prices of non-compliance.

“We delight ourselves within the Dangote Model and search to advertise a tax compliance tradition, which demonstrates our company duty to the federal government for the availability of public items and providers for the residents”, she added.

Fowokan defined that the corporate as a part of steps to attain compliance maintained its finest observe tax governance tradition, ensured ⁠correct tax computation and well timed remittance to keep away from penalties & curiosity arising from tax compliance defaults. She affirmed that these steps helped to minimise tax audit dangers & keep away from incidence of tax litigations.

Dangote Industries Restricted (Dangote Group) is considered one of Africa’s largest industrial conglomerates. It’s a diversified and totally built-in conglomerate. It has been a key investor within the Nigerian financial system. The Group’s pursuits embody cement, sugar, salt, fertiliser, agriculture, transport, packaging and actual property, the oil and gasoline, petrochemical, and metal sectors of the financial system.

The core enterprise focus of the Group, which began operations in 1978, is to offer native, value-added services and products that meet the ‘primary wants’ of the populace. By means of the development and operation of large-scale manufacturing amenities in Nigeria and throughout 17 different African nations, Dangote Group is concentrated on constructing native manufacturing capability to generate employment, forestall capital flight and supply regionally produced items for the individuals.

Picture Caption 

(DSC 7925), L- R, Dangote Ports Managing Director, Akin Omole, Dangote Industries ltd, Group Head, Strategic Tax & Compliance, Dr.Titilayo Fowokan, receiving the Federal Inland Income Service(FIRS)’s Most Compliant Taxpayer Award from the FIRS Director, Tax Payers Service Division, Dr. Loveth Onanuga; FIRS Tax Controller Giant Taxpayers Workplace, Ikeja Lagos, Abisola Olabiyi; FIRS State Administration Lagos Mainland, Ishola Akingbade,on the presentation of the award in Lagos on the weekend.

DSC 8273, Temilade Aduroja – Group Head Investor Relations, Dangote Industries Restricted (Left), receiving the  Award on Single Largest Company Debt Challenge on FMDQ for Dangote Cement Plc from Ayodele Onawunmi, Managing Director FMDQ Clear Ltd. Unbiased Non Govt Director, on the seventh Annual FMDQ Gold Awards Evening in Lagos on the weekend.