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UK company, three others fail security clearance for VAT collection

UK company, three others fail security clearance for VAT collection
January 23
19:26 2018

Risk Management Group, a company from the UK, and four other companies failed security clearance to manage an automated value added tax (VAT) collection project in the Nigerian telecommunications industry.

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Technology Times reports that the Federal Inland Revenue Service (FIRS) had requested that security clearance be carried out on the five companies because they will be granted access to restricted information during the project.

The project is part of the implementation of the Integrated Tax Administration System (ITAS), a programme by the FIRS to increase tax revenue in the country.

The companies investigated are 3R Company Limited and Teramatrix Technologies PVT Limited, its technical partner; African Advantage Telecom Limited; Active Solutions Integrated Synergy Limited and Active Intelligence Limited, its technical partner; Strataflex Limited and the Risk Management Group UK, its technical partner.

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African Advantage Telecom Limited was considered unsuitable for the project because of alleged inconsistencies in the details of the company in the countries it operates.

The security report also alleged that Active Solutions Integrated Synergy Limited and its technical partner, Active Solutions Intelligence Limited and Strataflex Limited and its technical partner, the Risk Management Group UK are involved in procurement breaches and money laundering cases.

3R Company Limited and Teramatrix Technologies PVT Limited, its technical partner were not indicted in the report.

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It was gathered that the FIRS will refresh bids for the project later in the year.

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