However, Nigeria has been advised to evolve an efficient disaster response ready for any eventuality, as natural disasters are currently sweeping across countries, even without significant notice. She said that at the Group of 24 meeting, Nigeria sought for instruments that would help the country to pursue taxes, and stem illicit flows by the multinationals, particularly the International oil companies. “We did ask them to look at how we can prevent transfer pricing and stop the flows that go out of the sector. Of course, these are the revenues that we can use in the pursuit of our growth and development,” she said. While the minister did not disclose the international community’s response, further developments towards plugging the tax leakages, maneuverings in transfer pricing, and illicit financial flows would attest to the answers.

Source: The Guardian October 13, 2018 07:21 UTC