Tax Remittance: EIRS rates PRESCO high

BENIN CITY:  Presco PLC has been rated high amongst the tax remitting institutions/ organizations in Edo State.
The Executive chairman of Edo State Internal Revenue Service, EIRS, Chief (Sir) Oseni Elamah made the assertion when he played host to the Managing Director (MD) of the company who led other top management team Mr. Felix Uwabuka on a courtesy visit to the Executive chairman in Benin City.
The Executive Chairman who specifically expressed his satisfaction over the company’s regular remittance of its taxes, said it was not about business relationship between the state and the company alone but the place it has come to occupy in the internally generated revenue/ tax administration in the state.
He specifically cited the mutual and PRESCO PLC as   that which earned it the Best Taxfriendly state by the Manufacturers Association of Nigeria (MAN).
He said the state places premium on creating a taxfriendly environment that will guarantee openness, innovation, transparency, accountability and professionalism.
He charged the MD to sustain the tempo as the company could be used to test how best the local content policy can be held in Nigeria especially as the nation is shifting policy from petroleum to agriculture.
“If Nigeria had managed her petroleum resources like you did with the palm, Nigeria would have done herself very good”, Elamah stated.
He acknowledged the company’s effort in the areas of expansion, development as well as  partnering with its host communities in view of creating job opportunities for the teaming youths.
He however assured the company sustenance in the cordial relationship between both parties.
Earlier, the Managing Director, of PRESCO PLC, Mr. Felix O. Nwabuko acknowledged the existing relationship between the EIRS and his Company, a situation he said had kept the company’s workability afloat.
He described his company as responsible, especially in terms of fulfilling its obligations to the state.
Mr. Nwabuko stated that the company had earlier discussed the issue of registration of workers for the purpose of taxation but was mitigated as a result of the complicity of the company’s operations, as majority of the workers  usually resumed their operations early and close late in far location.
According to him, “Because it was very important for them to get registered, we wrote to the EIRS to kindly spare some days to come to our station solve could assemble the workers for the registration which you gladly obliged us. So we came to thank you”.
He remarked further that due sheer volume of workers we have, we asked for extension and it was  granted and today the thousands of workers we have, have been registered”.
He therefore assured that his company would continue the existing partnership between both parties.