The chief tax collector in Nigeria, Babatunde Fowler has revealed that the country keeps losing about 15 billion dollars to tax evaders.
According to the Federal Inland Revenue Service (FIRS) boss during a meeting with tax experts across the globe, Nigeria is ready to implement the first automatic Exchange of Information standard by 2020.
He said the regime was part of the country’s commitment to improve transparency in tax administration, increased tax revenue collection, enhanced effectiveness, and efficiency in service delivery.
Fowler said there was a direct connection between tax compliance, domestic tax investigation, tax audit, information-gathering framework and the international infrastructure for the exchange of information among tax authorities.
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