Companies cheat Nigeria, others out of $730 million yearly by tax avoidance – IMF

The IMF disclosed that multinational companies were using their global reach to reduce tax liabilities in high-tax jurisdictions by shifting profits to lower-tax countries.


Nigeria and other Sub-Saharan African nations lose about $730 million annually to tax avoidance, according to a new report by the International Monetary Fund (IMF).

“Governments in sub-Saharan Africa now under tremendous pressure to raise public spending in response to the pandemic are losing between $450 and $730 million per year in corporate income tax revenues as the result of profit shifting by multinational companies in the mining sector,” IMF in the report said.

The fund, in its latest report, revealed that Africa is under tremendous pressure to increase public spending to address the effect of the deadly COVID-19 pandemic.

It said profit shifting has put unprecedented stress on the international corporate tax system.


The IMF disclosed that multinational companies were using their global reach to reduce tax liabilities in high-tax jurisdictions by shifting profits to lower-tax countries.

Also, the IMF disclosed that Africa possesses 30 per cent of global mineral reserves which is a major opportunity for the region, suggesting that targeted policy actions be taken to reduce tax avoidance and help recover the highly needed tax revenue.

According to the report, these findings come amidst global efforts to address the grievance impact of tax competition and profit-sharing by multinational companies.

The fund said that maximum tax acquisition will aid Africa’s economic recovery efforts to fully recover from the impact of the COVID-19 pandemic and meet the SDG goals.

A month earlier, chairman of the Federal Inland Revenue Service (FIRS) Muhammad Nami, revealed that only 41 million of Nigeria’s over 200 million population pay taxes.


Peoples Gazette


You might also like

Leave A Reply

Your email address will not be published.

  1. Rkkzineft says

    Zestoretic Keflex

  2. Rkkzineft says

    freds pharmacy store canadian pharmacy scam

  3. onepercictSet says
  4. BeriaBizzonCeni says
  5. AmyNaR says
  6. Normanbup says

    provigil price provigil cost

  7. WilliamDecog says

    provigil prescription provigil over the counter

  8. canadian pharmacy cialis says

    Levitra Gesund

  9. SidUnots says
  10. MarlinSealo says

    I’m totally excited having stumbled across the website, it is really the thing my friends from work and I have been hoping for. The information on this webpage is with out a doubt helpful and will help me quite a bit. It shows that everyone acquired a lot of info concerning this and other pages and information like wise show it. I am not on the internet most of the time but when I get a chance i’m usually perusing for this type of factual information and others closely concerning it. I have a couple of my family members that have also acquired a liking in this because of what I have discovered about it and they will probably going to be visiting the site since it is such an incredible find. I’m also interested in government issues and coping with the drastic changes in politics. When you get a chance, have a look at my site: Natural Bridge Hotel

  11. Cialis says


  12. SamuelCrode says
  13. OxydayArratty says
  14. SidUnots says

    provigil side effects modafinil

  15. DavidErary says
  16. Carloscer says
  17. SidUnots says

    how to get modafinil prescription buy modafinil

  18. SidUnots says

    buy provigil online modafinil online

  19. SamuelCrode says

    modafinil weight loss provigil 100mg

  20. SidUnots says

    provigil online modalert online

  21. SidUnots says
  22. Dmsineft says

    canadian online pharmacies canada pharmacy world

  23. BeriaBizzonCeni says
  24. Ashleyelurb says
  25. OxydayArratty says
  26. WimNaR says
  27. onepercictSet says
  28. DavidErary says

    provigil over the counter provigil 100 mg

  29. WilliamDecog says

    modalert 200 provigil 100 mg

  30. Normanbup says
  31. onepercictSet says
  32. WilliamDecog says

    buy modalert modalert

  33. DavidErary says

    provigil provigil

  34. Patrickmus says
  35. DavidErary says

    modafinil prescription modalert 200

  36. Normanbup says

    provigil side effects buy modafinil online

  37. SamuelCrode says

    modafinil 200mg modafinil

  38. SamuelCrode says
  39. WilliamDecog says

    provigil generic buy modafinil

  40. Normanbup says

    provigil medication provigil prescription

  41. DavidErary says

    provigil pill provigil cost

  42. Normanbup says

    provigil prescription provigil for sale

  43. WilliamDecog says
  44. DavidErary says

    provigil prescription provigil online

  45. Sharylbus says
  46. DavidErary says

    provigil provigil 100mg

  47. WilliamDecog says
  48. Normanbup says
  49. DiedraSoots says
  50. SueNaR says
  51. Normanbup says
  52. SamuelCrode says

    modafinil prescription online provigil online

  53. SamuelCrode says
  54. SamuelCrode says
  55. IvyNaR says
  56. Normanbup says
  57. Gregoryswact says
  58. BeriaBizzonCeni says
  59. OxydayArratty says
  60. JudyNaR says
  61. WilliamDecog says
  62. BeriaBizzonCeni says
  63. АААlrpzzeo says blqmv ukhpm
    yunb ddnznz nubpt nvtgm

  64. JimNaR says
  65. Carloscer says
  66. WilliamDecog says
  67. Patrickmus says
  68. Carloscer says
  69. SueNaR says
  70. says – ivermectin tablets for humans

  71. incalia says
  72. BeriaBizzonCeni says
  73. Folgam says

    ivermectin 200 mcg – price of stromectol ivermectin 3mg otc

  74. onepercictSet says
  75. Sharylbus says
  76. AgigmasyOppogma says
  77. BeriaBizzonCeni says
  78. SamuelCrode says
  79. CharlesliP says

    buy zithromax without presc order zithromax

  80. Mathewbrict says

    cialis vs. viagra recreational use cialis fastest shipping

  81. Mathewbrict says

    use paypal to buy cialis germany cialis professional

  82. Mathewbrict says

    where can i get cialis overnite splitting cialis

  83. ThomasItalp says

    stromectol order ivermectin 2ml

  84. ThomasItalp says

    generic ivermectin stromectol where to buy

  85. Antoniodok says
  86. Antoniodok says

    real viagra without a doctor prescription viagra professional

  87. Antoniodok says
  88. Antoniodok says

    viagra price female viagra

  89. Antoniodok says

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More