November 13, (THEWILL) — The Federal Government has announced a new international tax cooperation initiative designed to track the income of Nigerians earning remotely from foreign employers.
According to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Nigeria has partnered with over 100 countries under the Automatic Exchange of Information (AEOI) framework to improve transparency and reduce revenue leakages.
Oyedele explained that the collaboration will allow the Federal Inland Revenue Service (FIRS) to access verified income data of Nigerian residents from participating nations, ensuring that taxes are appropriately assessed and remitted.
The move comes as part of the government’s wider tax reform drive aimed at expanding the fiscal net, modernizing compliance systems, and aligning Nigeria’s tax policy with global best practices.
With the rise of remote work and digital freelancing, authorities believe this initiative will help the government capture a growing segment of untaxed income while strengthening accountability within the digital economy.
Ogochukwu Onwaeze
