Tax compliance: Coca-Cola receives Lagos endorsement

Coca-Cola Nigeria Limited has been called “an upstanding Corporate Citizen.” This commendation was made by Lagos State Governor Babatunde Fashola at the ninth edition of the State’s Tax Awards, where the beverage firm along with Access Bank, won the Corporate Tax Compliance Award.

At the ceremony held at Ikeja, Lagos, Fashola lauded the awardees for fulfilling their civic duties and contributing their quota in moving the wheel of progress in Lagos State.

“We have always harped on the importance of private and corporate residents in Lagos paying their taxes as part of their civic responsibility and because our state serves as a base for many businesses, a major portion of our revenue comes from the taxes levied on them. We are glad that our drive to improve tax compliance is an ongoing success. This is why Lagos is working regardless of the economic drop the nation is experiencing over plummeting oil prices and we have you, our committed tax payers to thank for this,” he said.

Receiving the Tax Compliance Award for Coca-Cola Nigeria Limited, Seye Dosunmu, its finance director, said the award was a validation of the company’s best practices and its unwavering adherence to the rules and regulations passed by its host governments.

“Coca-Cola, wherever it does business in the world, places a premium on cultivating mutually beneficial relationships with their host Communities and Governments. Paying taxes as at when due is one way we show our good faith and of course, contribute our quota to the economic upliftment of society. And really, Life and Business is about give-and-take in the final analysis,” he said.