FIRS to block $10bn tax leakage by multinational

The Federal Inland Revenue Service (FIRS) says it is working towards blocking about $10 billion tax leakages by multinational corporations operating in the country who engaged in illicit profit shifting.

FIRS Executive Chairman, Muhammad Nami, said this at the 2020 Corporate Plan Retreat of the service in Abuja on Friday.

He added that if the country was able to detect and block tax avoidance schemes by multinational corporations, it would be able to improve its tax revenue collection.

“Since I assumed office as chairman, we have revised the organisational structure of the service that reflected management aspiration reviewed and redesigned tax audit and investigations functions and currently we are reviewing all lien cases with a view to closing them and introduce new enforcement…

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