PAN Closure Will Impact On Vehicle Output

The plant of Peugeot Automobile of Nigeria (PAN) has been reopened after a temporary closure ordered by the Federal Inland Revenue Service (FIRS), but the incident is likely to further erode the industry's dwindling output. The plant was closed for two days after the FIRS alleged that PAN had failed to pay a tax bill, which with interest and payment penalties had reached NGN1.29bn (US$8.38mn). However, the FIRS was satisfied with the payment of a 'substantial amount' of money and PAN's explanation for the non-payment and agreed to re-open the

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