The Federal Inland Revenue Service (FIRS) chairman, Muhammad Nami, has declared the creation of 35 new Tax Audit Units to combat illicit financial flow across the country.
The FIRS boss disclosed this through the Director, Communications and Liaison Department, Abdullahi Ahmad, in Abuja on Monday.
He added that the creation of the units was also in a bid to improve tax compliance in the country.
According to him, “Effective Audit of Multinational Corporations for Domestic Revenue Mobilisation in Nigeria.”
The FIRS chief added that a few multinational firms were leading in tax compliance in Nigeria, but saying that a lot of multinationals are not paying their fair share of tax and don’t even do it voluntarily.
He explained further that Nigeria lost $178 billion (N5.4 trillion) through tax evasion of Multinationals operating in the country.
According to him, “At the FIRS, we are paying greater attention to tax audit in general and Transfer Pricing audit in particular in order to improve the level of tax compliance in the country.
“ As a result, in the last one year, we have created more than 35 additional Tax Audit Units and deployed experienced and capable staff to take charge of these offices.”