Federal Inland Revenue Service issues notice of compliance monitoring visits to RFIs

Federal Inland Revenue Service issues notice of compliance monitoring visits to RFIs

Following the filing of the first sets of information returns by Nigerian Reporting Financial Institutions (RFIs) in September 2020, the Federal Inland Revenue Service (FIRS) has issued notifications to selected Nigerian RFIs of its intention to carry out compliance monitoring exercise with respect to Nigerian RFIs reporting obligations under the Income Tax (Common Reporting Standard) Regulations, 2019 (the CRS Regulations).