Consequently, the FIRS chairman solicited the support of the OECD in stemming the tax evasion scheme of oil majors and multinationals operating in Nigeria through the illegal act of transfer pricing under which these foreign companies dodge tax in Nigeria and transfer their profit offshore. In another development, the FIRS and the Federal Fire Service have resolved to work closer with each other to protect public property and records from possible fire outbreak. Both organisations made this commitment in Abuja when the Comptroller-General (CG), Federal Fire Service, Dr. Liman Alhaji Ibrahim, also paid a courtesy visit to the FIRS Headquarters in Abuja. According to Nami, the FIRS needs capacity-building support, information sharing, data interpretation, usage and related technical synergy with the OECD for the Service to meet tax revenue targets in the extractive industry and the newly-emergent digital economy. The CG pledged to work with the FIRS to protect the Service’s offices and valuable documents against fire outbreak, saying: “We are ready to work with your organisation to give the best fire service support needed.”

Source: The Guardian March 04, 2020 03:56 UTC