As part of its ongoing reforms to align the nation’s tax system with global standards, the Federal Inland Revenue Service (FIRS) has opened a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country.
The Executive Chairman of the FIRS, Muhammad Nami, explained that the AEOI-CRS system portal is currently live, open, and active.
Nami, however, called on all the Reporting Financial Institutions to begin to enrol in it. This was disclosed in a statement by the service’s spokesperson, Abdullahi Ahmad.
The statement read: “Each Reporting Financial Institution (FI) is required to designate an appropriate officer as Primary User (PU).
The PU is the custodian of the FI’s login details on the portal.
“A letter signed by the Chief Executive Officer of the FI introducing the PU to the FIRS is required as part of the enrolment process.
“In order to enrol as a PU of an FI and have access to related AEOI-CRS documents, please visit the FIRS website at www.firs.gov.ng and navigate the menu tab on Automatic Exchange of Information.
“Please do this only if relevant contact details have been forwarded to the FIRS. FIs are to further take notice that CRS reports for 2019 are due not later than 30th September 2020.”