FIRS Targets N1.9trn From Public Sector, Signs MoU With ICPC To Tackle Tax Fraud

Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC), Dr. Musa Adamu Aliyu, has assured the Federal Inland Revenue Service (FIRS) that the commission will assist the agency to tackle cases of tax evasion and financial crimes in the revenue generating sector of the country.

This is even as the FIRS targets N1.9trillion as tax from public sector with the collaboration of ICPC.

According to the spokesperson of the ICPC, Demola Bakare, the ICPC boss gave the assurance at the signing of a Memorandum of Understanding (MoU) by both organisations at the anti-graft commission’s headquarters in Abuja.

While emphasising the importance of strategic partnership in the fight against corruption, the ICPC chairman said: “Corruption erodes the fabric of society and hinders economic development. By partnering with FIRS, we can more effectively investigate and prosecute cases of corruption involving tax evasion and other financial crimes.”

At the signing of the MoU, the chairman of FIRS, Dr. Zach Adedeji, who led his management team to the signing ceremony, which he tagged “fostering of collaboration” between the two agencies, said: “the MoU is a working agreement between the two agencies helping you to do your work and attain the vision of Mr president under one government and one country.”

RELATED

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

43 minutes ago

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

45 minutes ago

The FIRS chairman highlighted the role of tax compliance in building a more equitable society.

“Tax evasion deprives the government of much-needed revenue that could be used for public services. Through this partnership, we aim to ensure that everyone pays their fair share of taxes,” he said.

Accordingly, the FIRS projected that it will generate N1.9trillion as tax from public sector with the collaboration of ICPC.

Under the MoU, the two agencies will establish a joint task force to coordinate their efforts and share information on cases of mutual interest. They will also conduct joint training programs to enhance the skills of their staff in investigating financial crimes and detection of tax evasion.