Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, who has vowed that his agency would ensure that private jet owners in the country do not evade tax.
Fowler said this while speaking at the “FIRS and Global Forum on Transparency and Exchange of Information on Tax Purposes workshop in Lagos at the weekend.
The FIRS boss in his speech lamented the transfer of illicit fund to other countries and how it has remained undetected.
His words: “I did find out information that Nigerians and Nigerian organisations have 29 private jets registered in South Africa and the issue is, how much tax do they pay here?
“We are not even talking about the issue of how they got the money to buy the jets, but first of all how much tax they have paid to the Federal Government of Nigeria and the issue to their source would be dealt with later on.
“For Africa, it is important we help each other. And the only way we can help each other is through automated exchange. Each African country present here today needs to maximise its revenue through taxation. And the only way to maximise it is when we exchange information.”
He added: “Another issue that was in the news some weeks ago was one of the most expensive penthouse suites in New York that was foreclosed and was bought by a Nigerian called Aluko, who was involved in oil scams.
“The issue is that some countries may say ask no questions but the US that allowed that individual to buy a $59 million apartment without asking questions also has a scheme now for all Americans that have investments or bank accounts outside America.
“They have given the countries where they have those accounts a certain time limit to provide the information to them even without any international legal agreement. So if developed countries can be looking at their bottom line in terms of tax revenue, we also should.”
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