The Federal Inland Revenue Service (FIRS) has created 35 additional Tax
\nAudit Units across the country to address illicit financial flow.<\/p>\n
Mr Abdullahi Ahmad, Director, Communications and Liaison Department of
\nthe service, made this known in a statement in Abuja on Monday.<\/p>\n
Ahmed explained that the decision was in a bid to stem illicit financial
\nflow and improve tax compliance rate in the country.<\/p>\n
The director quoted the Executive Chairman, FIRS, Mr. Muhammad Nami, as
\nsaying this at a workshop in Abuja on Monday on Effective Audit of
\nMultinational Corporations for Domestic Revenue Mobilisation in Nigeria.<\/p>\n
Nami observed that some multinational corporations were leading in tax
\ncompliance in various sectors.<\/p>\n
He, however, expressed worries that many rich Multinational Corporations
\ndid not pay the right taxes due to them, let alone pay their taxes
\nvoluntarily.<\/p>\n
Nami also stated that between 2007 and 2017 Nigeria was reported to have
\nlost over 178 billion dollars (N5.4 trillion) through tax evasion by
\nMultinationals doing business in the country.<\/p>\n
He also cited a 2014 report by the High-Level Panel on Illicit Financial
\nFlows from Africa, which stated that \u201cNigeria accounted for 30.5 per
\ncent of money lost by the continent through illicit financial flows.<\/p>\n
\u201cAt the FIRS we are paying greater attention to tax audit in general and
\nTransfer Pricing audit in particular in order to improve the level of
\ntax compliance in the country.<\/p>\n
\u201cAs a result, in the last one year, we have created more than 35
\nadditional Tax Audit Units and deployed experienced and capable staff to
\ntake charge of these offices\u201d he explained. (NAN)<\/p>\n
The Federal Inland Revenue Service (FIRS) has created 35 additional Tax Audit Units across the country to address illicit financial flow. Mr Abdullahi Ahmad, Director, Communications and Liaison Department of…<\/p>\n","protected":false},"author":1,"featured_media":50220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-77669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\n