The Oyo State Board of Internal Revenue has threatened 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 emphasised 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.
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The enforcement aims to ensure compliance with tax laws and boost the state’s revenue generation.
Business owners are urged to clear their outstanding payments before the deadline to avoid disruptions to their operations.
The board also advised those yet to register for tax to do so immediately.
