The Oyo State Board of Internal Revenue has announced plans to shut down hotels, restaurants, apartments, and other businesses in the hospitality sector that fail to meet their tax obligations by February 13, 2025.
In a statement, the board emphasized that affected businesses must settle various taxes and levies, including Personal Income Tax, Land Use Charge, Withholding Tax, Stamp Duty, Capital Gains Tax, and other statutory fees and charges.
The enforcement move aims to ensure compliance with tax laws and boost revenue generation for the state. Business owners are urged to clear their outstanding payments before the deadline to avoid disruption of operations.
Also, those that are yet to register for tax should register immediately.
