FIRS DG says N3.63bn recovered from illicit financial flows in one yr

With Agency Report — The Federal Inland Revenue Services (FIRS) said it recovered about N3.63 billion by curbing Illicit Financial Flows between January 2017 and August 2018 in the country.

The Executive Chairman of the FIRS, Mr Tunde Fowler, said this on Thursday in Abuja at the Inter-Ministerial African Union High Level Panel on Illicit Financial Flows (IFFs).

Fowler said that the FIRS had made positive strides in curbing IFFs such as illegal tax evasion and abusive transfer mispricing by companies operating in the country.

“Total tax debt recovered from January 2017 to 31st August 2018 is N3.63 billion. From November 2016 to December 2017, we also recovered N1.9 billion,” he said.

Fowler also said that the Service had uncovered 114 companies that claimed that they were not aware of lands worth billions of Naira allocated to them in Abuja.

He said that the FIRS had confirmed from the Abuja Geographical Information System (AGIS), that the lands were actually allocated to the companies.

He said that the Service would soon hand over the false claims to the Attorney General of the Federation for further action on the controversial lands.

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