FIRS CHAIRMAN FOWLER SPEAKS TOUGH ON REVENUE GENERATION.

Mr, Babatunde Fowler, the acting Chairman of Nigeria's Federal Inland Revenue Service has said he will engage the services of audit firms, chartered accountants, tax consultants and other professional service providers in a landmark collaboration to boost non-oil revenue. He said this at a meeting of stakeholders towards harmonising the exchange of information across all the revenue authorities, as well as facilitating the synchronised audit of all companies in the country, it was agreed that information would be shared with members of the National Assembly, particularly on tax laws in collaboration with other professional bodies and relevant stakeholders.Fowler said the proposed collaboration between the service and professional service providers as well as State Boards of Internal Revenue (SBIR) would mark a turning point in taxation and significantly cut the country's reliance on oil revenue.The meeting resolved that the FIRS, State Revenue Boards and the various audit firms would carry out joint audits of the various companies to ensure the accuracy of the exercise, enhance transparency and drive compliance.