The Federal Inland Revenue Service (FIRS) chairman, Zach Adedeji has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations.
Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by FIRS in conjunction with the Oil Producers Trade Section (OPTS) on Monday.
He said: “The Federal Government has set a target of increasing Nigeria’s tax-to-GDP ratio to 18 percent within the next three years. The goal is to achieve this without imposing additional taxes but by broadening the tax net. The compliance exercise on international shipping companies lifting crude oil from Nigeria aligns with this broadening tax net strategy.
“I am sure all the international shipping companies that we contacted know the importance of complying with tax laws in their various jurisdictions. Therefore, I urge the international shipping companies not complying with Nigerian tax laws to begin doing so immediately.
He said the compliance exercise commenced by FIRS on the activities of foreign shipping companies lifting hydrocarbons from Nigeria was part of measures aimed at widening the tax net to grow revenue for the government.