Banks may shut down in Imo over withholding tax controversy

Following controversies over withholding tax, banks operating in Imo State may shut down operations. 
Daily Sun gathered that the planned shutdown is as a result of a disagreement with the state government over the payment of withholding taxes, for which the latter accused the banks of non-compliance.
Trouble started, it was gathered, when recently the state Board of Internal Revenue (BIR) slammed various amounts on the banks, claiming that they represented amounts of withholding taxes, which the banks defaulted in payment.
A source close to some of the banks disclosed that the figures, which the BIR requested the banks to pay ranged from N250 million to N650 million and which the banks considered not only as arbitrary but also a misrepresentation of facts. as, according to the banks, none of them is on default of the payment of the taxes.
For proper evaluation, it was gathered, the banks invited officials of the agency to  scrutinise their books.
While the banks were waiting for the response of the state government, Daily Sun gathered, the BIR got an ex-parte court’s order against them.
On getting alerted on the ex-parte court’s order, some of the banks sought dialogue with BIR, where it was agreed that the banks should be given time to properly brief their head offices of the development.
Another twist came, on the date agreed for a subsequent meeting when officials of the BIR stayed away.
Consequently, the banks sought direct audience with the relevant government officials as well as the leadership of the state House of Assembly.
Up till the time of filing this report, there have been no responses from both the Government House and the State House of Assembly.
Consequently, the banks are planning a shut down to forestall the execution of the court’s order.