The Federal Inland Revenue Service, FIRS, on Sunday announced that it would carry out a special audit of all companies operating in the country.
A statement from the FIRS signed by the Director, Communications and Servicom Department, Mr. Emmanuel Obeta, said the decision to carry out the exercise was reached after a meeting between the Acting Executive Chairman, FIRS, Mr. Babatunde Fowler and audit firms, chartered accountants, tax consultants and other professional Service providers.
The statement stated that the audit would be carried out within 30 days and would take into consideration the various year ends and peak points of activities of the various companies.
It said the collaboration between the professional service providers, states board of internal revenue and FIRS, would mark a turning point for taxation as well as reduce the country’s reliance on oil.
The statement reads in part, “The meeting focused on the need to harmonise exchange of information across all the revenue authorities as well as ensuring a synchronised auditing of all the various companies in the country.
“At the end of their meetings, they agreed to share information with members of National Assembly, particularly on tax laws in collaboration with other professional bodies as well as relevant stakeholders.
“They also resolved that FIRS, State Revenue Boards and the various audit firms will carry out joint audits of the various companies to ensure accuracy of the exercise, enhance transparency and drive compliance.
“These audits will be completed within 30 days and will take cognisance of the various year ends and peak points of activities of the various companies.”
The statement quoted Fowler as saying input from stakeholders was necessary for the expansion of the nation’s tax net, information dissemination.
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