Osinbajo Tasks Tax Administrators On Transparency

By Factnews on 27/09/2017

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Vice President, Prof. Yemi Osinbajo

Vice President, Prof. Yemi Osinbajo, has tasked African tax administrators to enhance transparency in resource mobilisation as well as tackle challenges relating to Base Erosion and Profit Shifting (BEPS).

Osinbajo dropped the challenge at the opening of an international conference of Africa Tax Administration Forum (ATAF) in Abuja.
He noted that the continent was eager to ensure transparency and information sharing among ATAF member-states.

Information sharing, he said, involves establishing automatic information exchange as the new global standard for cooperation in tax matters and ending legal secrecy of ownership of companies and trusts, especially those based in tax havens.

The vice president observed that in containing Base Erosion and Profit Shifting- which has also done significant damage to domestic resource mobilisation in Africa, a range of potential actions were planned byOrganisation for Economic Co-operation and Development countries.

He commended the Federal Inland Revenue Service (FIRS) as the most innovative and forward looking tax administrator in Africa.

 

Posted on September, 27 2017

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