FG to Tax-audit Registered Companies

DODGY –Over 325,000 registered companies are tax-evaders.

The Federal Government of Nigeria said it would soon commence tax-audit of all the 450,000 companies operating in the country in order to curb tax-evading firms.

The Federal Inland Revenue Service (FIRS) made this known yesterday in a statement.

According to the FIRS, only 125,000 companies of the 450,000 firms operating in the country, representing about 27 per cent, paid any form of tax; while the remaining 325,000 are tax-evaders.

Emmanuel Obeta, the Director, Communications and Servicom Department, said that the decision to carry out the exercise was reached at a meeting between the Acting Executive Chairman of the FIRS, Babatunde Fowler and professional service providers.

myfinancialintelligence.com