Executive Chairman of the Federal Inland Revenue Service, Zacch A. Adedeji,has challenged multinational shipping companies operating in Nigeria to make sure they balance their accounts with the Service by December 31, 2023.
Adedeji’s directive is as part of his attempts to enforce strict compliance with the nation’s tax regulations.
According to a statement by his special assistant on media, Dare Adekanmbi, the FIRS Chairman made this known in Lagos on Monday during a workshop on the taxation of non-resident shipping businesses hosted by FIRS in collaboration with the Oil Producers Trade Section.
Adedeji disclosed that the goal of the tax compliance exercise, which was started by FIRS, was to increase government income by expanding the tax net rather than to interfere with the operations of international shipping firms that were extracting hydrocarbons from Nigeria.
The head of FIRS emphasised that foreign shipping companies have until December 31 of this year to reconcile their books with FIRS, and noted that his action upon assumption of office had earlier resulted in the six-month grace period.
